Taglich Brothers Announces a Buy Recommendation on Berger Holdings, Ltd. -BGRH
PHILADELPHIA--(BUSINESS WIRE)--May 12, 1999--Taglich Brothers, D'Amadeo, Wagner & Company, Inc. has initiated coverage on Berger Holdings, Ltd. (symbol: BGRH, recent price: $2.63) with a buy recommendation.
Berger manufactures copper, aluminum, galvanized and painted steel roof drainage products for the residential remodeling and renovating market. In 1997, Berger embarked on a consolidation plan and has since acquired its two biggest competitors. Berger has also generated new growth in a mature industry by emphasizing copper as a specialized product.
For fiscal 1999 ending December, we estimate revenues of $43.3 million and earnings of $0.26 per diluted share. For fiscal 2000, we estimate revenues of $47.2 million and earnings of $0.42 per diluted share. Our 12 to 18 month target price range is $4.00 to $6.00. |
