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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Dragon 1 who wrote (36960)	2/6/1999 9:51:00 AM
From: thomas hayden	Read Replies (3) \| Respond to of 95453

VTS cut to accumulate from buy by Raymond James. Basically the report said low oil prices will cut into spending by big oil companies on seismic. They really took down EPS estimates. For FY1999 they are looking for a $1.00, and that takes into account they have already earned $.60 last quarter. For FY2000 they are looking for $.85. The 12 month target is $16. That compares with Merrill's report of a week or 2 ago. They are looking for earnings of $1.25 for FY1999, and $1.45 for FY2000. Merrill's 12 to 18 month target is 21 to 22, or 15x FY2000 earnings. Looks like this is going to be a long term holding.