Exide: Overbought or bargain? Message Board

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Technology Stocks : Exide: Overbought or bargain?

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To: Bob Frey who wrote (22)	1/27/1997 8:32:00 PM
From: patrick w. carty	of 125

Hi Bob, Exide off today to 20 7/8. I used weakness to initiate a position. Here is my reasoning. Concensus estimate for Yr. ending Mar.97 is for $1.63 per share. If market values company at Auto Parts SubIndustry Average (PE12.4),stock is worth $20.($1.63 x 12.4 = $20.212).If market recognizes Exide as the recovering Growth company that it is, a PE ratio of 21 would not be unreasonable.(The 5 year PE range for EX is 21-97).Then it would be valued at $34 a share.($1.63 x 21 = $34.23).In summary, I see Exide as a stock with good upside potential and little downside risk. Good Luck to both of us, and let's hope any earnings surprises are on the up side! PC

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