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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Greg McDaniel who wrote (10772)	4/27/1999
From: Greg McDaniel	Respond to of 27311

Here is what I learned at the Multex website, subscription is free, some reports are free and others vary in price. There is one analyst following VLNC and he is projecting positive net income in 1999. Most of income will be in 4th quarter. Taking that 4th quarter estimate and projecting a 20, 30 and 40 PE multiples gives $12, $18, $24 price. Assuming VLNC could continue improving income, say 50% sequentially, for 4 quarters the momentum guys would jump on board and this stock could indeed roar. Projecting 20, 30, 40 PEs after 4 quarters of 50% sequential growth would be approximately $40, 60 and $80 per share. That is what keeps the bulls in this stock. There were no projections in the report for 2000. Now I am assuming this was done on calendar year basis and that the analyst is not FMK. Analyst is not named but could he be the same as the gentleman that was on the last conference call? I think that any of the reports purchased there would sound a lot like Larry in that they would be very conservative. I have reviewed other reports like this and they are very conservative. IE typically no recomendation to buy until purchase orders, a black bottom line, etc..

To: Greg McDaniel who wrote (10772)	4/27/1999 12:11:00 AM
From: Steve Hegji	Read Replies (3) \| Respond to of 27311

To All: Just got back from a 5 day vacation. While I was away, I visited an old friend who works for (...). Because of his location in the West, as a lark I asked him if he'd ever heard of Valence. He said yes, that in fact they were doing quite a bit of business with Valence. And that Valence had just made an expensive conversion to a different (...) process. He thought that was a sign that they must be doing well. I didn't pursue it. And although I'm dying to fill in the blanks for you guys, I'm also concerned about passing out information that could get my friend in trouble for violating any business confidentiality. For what it's worth, I found what he had to say encouraging. I'm more determined than ever to hold my shares.