RE: VISX, Anthony pointed out that every MM in the US
is shorting this one. Then you scan the news and there is firms
putting strong buy rating on this stock.
The 2.4 billion market cap seems high anyways, stock is probably
worth only 1/2 the current value. Updrades/Downgrades never seem
to work the way you think, The sharks are hungry <hee>,
the sharks are feeing <hee>.
Pirate
Baloney below......
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RESEARCH ALERT-VISX restarted at strong buy
Reuters Story - March 02, 1999 18:04
MINNEAPOLIS, March 2 (Reuters) - Dain Rauscher Wessels said Tuesday
that it has reinitiated coverage of laser vision correction technology
company VISX Inc. with a strong buy-aggressive rating. -- "VISX is the
dominant company within the rapidly growing laser vision correction
industry, with roughly 75 percent of U.S. procedures performed on VISX
lasers," Dain Rauscher said in a research report. -- VISX said Monday
that first quarter demand for its laser technology products will
boost profits sharply above Wall Street expectations. -- VISX shares
were up 18-1/2 at 79 Tuesday.
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BancBoston Robertson Stephens Upgrades VISX, Inc., to a Buy Rating
PR Newswire - March 02, 1999 09:33
SAN FRANCISCO, March 2 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association
of Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens senior medical devices analyst Wade H.
King today upgraded VISX, Inc. (Nasdaq: VISX), to a Buy rating from
Long-Term Attractive. VISX, Inc., headquartered in Santa Clara,
Calif., is the leading manufacturer of excimer last systems used to
perform laser vision correction (LVC) procedures.
"VISX announced late yesterday that preliminary earnings per share for first quarter fiscal 1999 would likely fall in the range of $0.51 to
$0.55 on a fully taxed basis, well ahead of our estimates.
Consequently, we are upgrading VISX to a Buy rating from Long-Term
Attractive, with a price target of $81, and increasing our revenue and
earnings estimates," said King.
"For fiscal 1999, we are raising our revenue estimate from $165
million to $218 million and our earnings per share estimate from $1.54
to $2.10. For 2000, we are increasing our revenue projection
from $187 million to $248 million and our earnings per share estimate
from $1.88 to $2.70," said King. "By the end of 1999, we look for
shares of VISX to trade at $81, which is 30 times our new
2000 earnings estimate of $2.70 per share."
"VISX management indicated that procedural growth is significantly higher than expected and that doctors will likely perform more than
600,000 LVC procedures using VISX lasers in 1999. In our
opinion, the overall domestic LVC market could exceed 850,000
procedures in 1999, and 1.2 million procedures in 2000. In 2000, we
expect doctors to perform more than 800,000 LVC procedures
using VISX lasers," said King.
Clients interested in receiving more information should contact their salesperson at (415) 781-9700.
BancBoston Robertson Stephens is a leading international investment banking firm focused on emerging growth companies. The firm's 46
research analysts cover more than 600 companies. Additional
information is available upon request.
The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although
opinions and estimates expressed herein reflect the current judgment
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VISX) |
