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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL
CWEI 131.900.0%Apr 25 5:00 PM EST
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To: Judith Weintraub who wrote (507)3/19/1997 9:30:00 PM
From: Buzz Mills   of 1017
 
Judith/All

The word on the street is that the Hold rating is possibly political because of the change in firms. Apparently Paul Ferretti's report is very positive regarding CWEI; he just doesn't think the stock price is going to move much in the next few months until CWEI releases information on the success of the 3-D seismic survey. Other analysts all agree the Hold rating doesn't make any sense whatsoever--it isn't that CWEI is overpriced at all--in fact the opposite is true. I have seen Buy recommendations when brokerages have stock they want to dump, and I have seen Sell recommendations when brokerages want to buy stock--the new firm doesn't have any clients in the stock--yet. I had not heard of ABN AMRO until today--but I have a feeling we will hear more about them in the future--they are establishing a large website. In the meantime--we are all completely frustrated--and having a hard time understanding how we can sitting at a PE of 7. It is very strange that one day after CWEI comes out with barn-burner earnings--that ABN AMRO initiates coverage with a Hold--almost as if they didn't want the stock price to get away from them--before they got some clients in---that is the only scenario that explains the Hold rating.

Buzz
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