Sunoco - SUN - The Best Oil Company Message Board

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Gold/Mining/Energy : Sunoco - SUN - The Best Oil Company

SUN 52.41

-0.2%

Dec 31 3:59 PM EST

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To: Jack Hartmann who wrote ()	3/2/2000 9:13:00 PM
From: Jack Hartmann	of 29

March 2, 2000 Good SUN rating. Dow Jones Newswires Fahnestock Energy Analyst Says Oil Stocks Undervalued NEW YORK -- Fahnestock & Co.'s senior energy analyst expects crude oil prices to retreat to $20 to $22 a barrel, and foresees an increase of 1.5 million barrels a day in production. In a CNBC interview Thursday, Gheit said the production level will be a compromise between OPEC's two camps, made up of countries that can increase production and countries that cannot. Gheit suggests investors increase their weightings in oil stocks, which he sees as undervalued. He particularly likes Sunoco Inc. (SUN), whose shares he sees reaching $35 "in a very short period of time," and Exxon Mobil Corp. (XOM). Exxon's earnings are highly leveraged to lower crude prices, Gheit said. He predicts strong 2000 earnings for the company. Sunoco currently trades at just over 26, and Exxon Mobil just under 76. Oil currently trades over $30 a barrel. OPEC production in January ran at an estimated 26.2 million barrels a day. -Christine Nuzum, Dow Jones Newswires, 201-938-5172 I'll take $35. Yes, I will. Jack

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