Remember Ya heard it from Griz BABY, Now confirmed by the WSJ!!
Journal says US fund manager keen
Manitoba Telecom Services Inc MBT
Shares issued 70,000,000 Nov 7 close $15.30
Mon 10 Nov 97 In the News
The Wall Street Journal reports in its Monday edition that some US mutual
fund managers are dipping into Canadian stocks outside natural resource
sectors, and beating US stock market averages in the process. Reporter Ben
Dummett says that these professionals, at Scudder Stevens & Clark, Putnam
Investments and Pioneer Management, among others, are betting on financial
services, communications and consumer stocks to profit from Canada's
current strong economic growth. A favourite of Oscar Castro, a portfolio
manager at Montgomery Asset Management in San Francisco, is Manitoba
Telecom Services, the main telephone company servicing the province of
Manitoba. The company's stock trades at a discount of 25 per-cent on a
cash-flow basis to the stock of regional telephone operators in the US, yet
the company does not face the same amount of competition from rival
providers, according to Mr Castro. He says that overall, the 100 biggest
companies in Canada have a combined price-to-future-earnings ratio of
18.85, compared with 21.89 for the largest US companies.
Further Coverage available @ plaza.v-wave.com
|
