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Non-Tech : Costco, slow but sure?
COST 883.87-0.6%3:34 PM EST
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To: WalleyB who wrote (775)11/24/1998 6:32:00 AM
From: Bill Wexler  Read Replies (1) of 1147
 
<<Whats the group think about the PE of 30~ getting up there ?>>

I'm guesstimating that net margin expansion will be between 15 - 25% by mid 1999. The trailing P/E may seem a bit expensive, but so what? I'm betting that '99 and '00 earnings come in much better than expected.

The only thing that worries me in the short term is the $100 mil+ charge and accounting change. Long-term, I think it is a big positive. If some dimwit analyst issues a downgrade and the stock gets knocked down, I'll simply use it as another opportunity to load up the truck.
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