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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (2087)	10/29/1998 11:18:00 AM
From: Narotham Reddy	Read Replies (1) \| Respond to of 2761

H&Q Downgrades SYNT Syntel (SYNT) --UPDATE--15 5/8 -7/16: Y2K consulting company downgraded by Hambrecht & Quist from "buy" to "hold" based on valuation and "lower growth profile coming off stellar 1998." H&Q says "decision to scale down Y2K business removes upside to 1999 outlook"...

To: JDN who wrote (2087)	10/29/1998 11:26:00 AM
From: JDN	Respond to of 2761

to all: Did some reviewing this morning. This is what I found: ACTUAL CONSENSUS 1st qtr 15 cents 10 cents 2nd qtr 17 cents 11 cents 3rd qtr 16 cents 13 cents sub T-- 48 cents 34 cents 4th qtr 16 cents (presume N/C) 13 cents (analysts estimate) YEAR 64 cents 47 cents Calendar 1999 analyst estimate 64 cents Folks, we have ALREADY likely met 1999 ESTIMATE in 1998. Now assume PROFIT GROWTH of ONLY 50% on revenue growth of 30% both are low numbers compared to this year but the base is higher which is why I lowered. That would result in earnings in 1999 of 64 plus 32 or 96 cents a share. WELL OVER current estimate. If PE drops to 25 stock price would be $24 If PE stays at 28 stock price would be $27 Current price $15ish. Seems to me that EVEN if growth slows and PE drops this stock has a lot of opportunity in it at current prices. COMMENTS ANYONE??? jdn