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Biotech / Medical : VISX -- Ignore unavailable to you. Want to Upgrade?

To: rogermci® who wrote (1165)	6/4/1999 4:47:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 1754

BancBoston reiterates its Buy recommendation and sets a 12-month target of $95: biz.yahoo.com Friday June 4, 4:18 pm Eastern Time Company Press Release SOURCE: BancBoston Robertson Stephens BancBoston Robertson Stephens Reiterates Buy Rating on VISX SAN FRANCISCO, June 4 /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 device and medical technology analyst Wade H. King, M.D., today reiterated his Buy rating on VISX, Inc. (Nasdaq: VISX - news). VISX, headquartered in Santa Clara, Calif., is the leading manufacturer of excimer laser systems used to perform laser vision correction (LVC) procedures. ''We are reiterating our Buy rating on VISX with a 12-month price target of $95, after the FTC announced today that it has dismissed its case against the company,'' said King. ''In his decision, the administrative law judge stated that there was no convincing evidence that VISX or its founders committed fraud or had intent to deceive the patent office. While an appeal from the FTC's Complaint Counsel is possible, any such proceedings would take an additional year to resolve. ''We believe that business remains very strong at VISX, both in terms of LVC procedure volume and system sales. The company has superior management, exceptionally strong top-and bottom-line growth, gross margins that already exceed 80 percent, and operating margins that exceed 55 percent. We believe VISX represents an excellent buying opportunity and should be a core holding for investors in medical device and medical technology companies,'' 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 55 equity and high yield 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 of BancBoston Robertson Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in ''Investment Risks.'' BancBoston Robertson Stephens from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested. SOURCE: BancBoston Robertson Stephens