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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Piranha who wrote (11543)	4/6/1999 11:51:00 AM
From: Casey	Read Replies (1) \| Respond to of 16960

Game Bundle announced tomorrow. Word from around the net has the V3 finally coming out Thursday and the gaming bundle for the V3-3000 being announced tomorrow. That may be the reason for the timing of the stock upgrade and price action. Casey "3dfx up for the 4th day in a row" K

To: Piranha who wrote (11543)	4/6/1999 1:50:00 PM
From: Piranha	Read Replies (1) \| Respond to of 16960

Whoops, my bad. I was expecting to see the Wedbush banner on the first page of the report, but instead got that internal memo so I thought they'd submitted the wrong document. In fact, the report was on the subsequent pages. Nothing earth-shattering in the report. Key points were impending completion of the merger, anticipation of strong V3 demand, support for the new business model under the merged company and general belief that shares are undervalued. Their price target is 21. They report current P/E as 17x forward earnings but think the company deserves 24-25x which would bring them in line with competitors. They also say "it would not surprise us to see several major OEM design wins in the next two quarters." (Actually, "several" was underlined, not bolded, but I couldn't figure out how to show that.) They didn't change their FY99 estimate of 0.84, but said they will release a revised model after the merger is finalized. "Not afraid to post on an UP day" Piranha