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Strategies & Market Trends : Water! Water! Everywhere and Not a Drop To Drink!
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To: big guy who wrote (122)6/10/1999 10:10:00 AM
From: Mike 2.0  Read Replies (2) of 336
 
Re: AZX...I bit on this and took a small position at 19 7/16. I have no idea short term where this will go, so will leg into full position if this goes lower. As mentioned before, netting out the one-time UK windfall tax in 1998 for Wessex, this stock is trading with a PE of 10-11. An eventual PE of 18, in line with other acquisitive water companies like AWK or PSC does not seem unreasonable to me.
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