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Technology Stocks : PairGain Technologies -- Ignore unavailable to you. Want to Upgrade?

To: ENOTS who wrote (24818)	6/24/1998 3:39:00 PM
From: Gravitar	Respond to of 36349

RESEARCH ALERT-Dain keeps buy on PairGain Reuters Story - June 24, 1998 15:37 CHICAGO, June 24 (Reuters) - Dain Rauscher Wessels said Wednesday it maintained its buy-aggressive rating on PairGain Technologies Inc. and said it is pessimistic on the possibility of PairGain being acquired by a larger telecommunications equipment or network equipment supplier over the near term. -- Firm says in report there have been no changes in PairGain's business fundamentals that would explain the stock's recent strength and expects the company to report flat sequential June quarter revenues with earnings per share $0.01 to $0.02 short of its published estimate of $0.18. -- Says anticipates PairGain shares to be weak over the short term as takeover speculation subsides. -- Stock, which rose 2-5/8 Tuesday, is up from the 13-14 range in early June. It was down 2-1/4 at 16-7/8 on turnover of more than 10 million shares Wednesday afternoon. -- Dain says has $26 per share price target based on 27.5 times its 1999 earnings estimate of $0.95 a share, which it says believes is appropriate multiple given PairGain's 20-30 percent growth rate.