Post says Maax seen as undervalued by Greg Bay
Maax Inc MXA
Shares issued 23,573,959 1999-10-06 close $12.65
Thursday Oct 7 1999
The Financial Post reports in its Thursday edition that Maax Inc. is a top stock pick of Greg Bay, president of Cypress Capital Management of Vancouver. Buy & Sell columnist Sonita Horvitch notes the stock, currently $11.90, has a 52-week range of $18.50 to $11.90. Cypress partner Carl Hoyt says that Maax has enjoyed very high revenue growth, largely driven by its acquisition strategy. He says, however, that the company has had indigestion problems from these acquisitions and recent hikes in its raw materials prices. Mr. Bay says that Cypress believes these problems are of a short-term nature and he says the stock is very cheap. He expects earnings of $1 per share for the fiscal year to Feb. 29, 2000, and $1.25 for fiscal 2001. Overall, Mr. Bay says there are a number of opportunities to buy solid Canadian growth companies at reasonable valuations, which is partly a symptom of the general lack of enthusiasm for Canadian equities. Cypress selects companies with a higher than average revenue and earnings growth rate, which trade at reasonable valuations, according to Mr. Hoyt. He says Cypress invests for the longer haul.
______
Hi bd,
no i see nothing against MXA. Great Co. I don't know about HomeDepot... |
