Magellan Aerospace Corp (MAL) New Listing Message Board

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Gold/Mining/Energy : Magellan Aerospace Corp (MAL) New Listing

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To: worldtraveller who wrote (631)	11/18/2000 1:11:15 AM
From: panda-man	of 633

Aaaaarrrrggghhh....what does Magellan have to do to get respect out there? TIP SHEET A daily compendium of market analysis and insights 03:51 EST Thursday, November 16, 2000 Aerospace: Mississauga-based Magellan Aerospace Corp. (TSE-MAL) reported its third-quarter results this week, announcing a profit of 15 cents a share a 50-per-cent increase over the 10 cents a share earned in the three months ended Sept. 30, 1999. Revenue rose 13 per cent to $151-million, from $134-million a year earlier. However, CIBC World Markets research said yesterday that management took a more conservative stance with its revenue guidance in a conference call. As such, CIBC World Markets reduced its 12-month target to $8.25 from $8.50 because it readjusted its revenue projections for 2001 to the lower end of management's guidance. "Though initially concerning," analyst Adam Shine wrote, "the reduction in our estimates is largely mitigated by what's anticipated to be better-than-expected margins and lower tax rates." The aerospace equipment maker has seen its shares steadily decline over the past 19 months from $10.20 to its close yesterday of $5.85 on the TSE. CIBC rates the company a "strong buy."

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