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Non-Tech : ACLN Ltd (NASD:ACLNF)
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To: Frank McVerry who wrote (21)5/24/2001 6:57:42 PM
From: DELT1970   of 41
 
Griffin Securities (NYC & UK) wrote up ACLNF on March 14, 2001, saying, "We are reiterating our strong buy with a target price range of $60-85 over the next 12-18 months. Our initial coverage was initiated on November 1, 1996. (NASDAQ listed ACLN in 1998) The Company has out performed our projections for the last 16 quarters."

Griffin estimates FY2001 EPS of $4.52 on revenues of $248M and FY2002 EPS of $6.62 on revenues of $356M.

Subsequent to the Q1 release, Griffin said on May 18, 2001, "We remain confident in our target price range....The Company is currently trading at a FY2001 multiple of 6 and a FY2002 multiple of 4....Profitability should further improve as ACLN expands its core businesses, develops new vertical market channels and reduces costs."
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