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Non-Tech : Berkshire Hills (BHL) Buy Addendum

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To: drsterling who started this subject5/2/2001 12:10:25 PM
From: drsterling   of 3
 
Berkshire (BHL) rated a Buy

Berkshire Hills Bancorp, Inc (BHL - $17.50)

Friedman Billings Ramsey & Co reiterated their Buy rating and their 12-month price target of $24, which represents 14x earnings estimates, consistent with the two-year forecasted growth. Trading at 85% of book value and 10x 2002 estimates, BHL is attractively priced relative to other New England community banks and thrifts, which trade on average between 140%-150% of book value and 11x 2002 estimates.
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