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Non-Tech : Indigo Air (ADR) - NASDAQ: IAABY---Undiscovered bargain
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To: Jim Mac who wrote (8)10/8/1998 12:14:00 PM
From: Boyd Hinds   of 11
 
I came across this stock about 2 weeks ago, and started to nibble a bit yesterday at 7.25. Here are the current pros/cons:

Pros:
1. Low PE, currently around 4.8 (TTM)
2. Below book, which my calculation puts around $7.51.
3. Falling worldwide interest rates should reduce borrowing costs.

Cons:
1. Global recession, limited demand for additional aircraft.
2. Investor uncertainty, resulting in dismal environment for small cap stocks.
3. Foreign company, so US buyers are scared off.

If revenues don't decline too much, the earnings growth from higher operating margins should get this stock noticed. Will be an interesting rest of the year.
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