New Analyst Report on Galaxy Enterprises Recommends Strong Buy With Projection of Higher Stock Price
OREM, Utah, Oct. 28 /PRNewswire/ -- Galaxy Enterprises, Inc. (OTC Bulletin Board: GLXY - news) announced today the publication of a new research and analysis report. The report comes with a Strong Buy recommendation from CSK Securities Research.
''Galaxy is already experiencing strong revenue growth,'' writes Christina Skousen, CSK research analyst. ''While 1997 revenues were solid at $2.5 million, revenues in 1998 jumped to $11.4, and we are projecting that 1999 revenues will reach $21 million. We are initiating coverage on GLXY with the ''Strong Buy'' recommendation.''
Skousen continues, ''For an Internet growth company, a very conservative PE ratio assumption of 30x earnings would bring Galaxy's stock price into the $24 range by 2001. We believe this makes GLXY very attractive for investors at its current price levels.''
John J. Poelman, President and CEO of Galaxy, said, ''We have felt for some time that our stock has been undervalued. Here is another third party endorsement, coming from an analyst firm, conservatively suggesting where we should be trading. We have proven that we can execute our business plan. As we continue in our course of business and attract the attention of more investors, we feel our stock will begin to respond accordingly. CSK will distribute this report to its list of money mangers which should help bring more attention to our efforts. We also have plans of taking a more pro-active approach with public relations to make Galaxy more visible.''
The analyst report details the nature of Galaxy's business, its subsidiaries, its products and services, and includes discussion about the future of the Internet and Galaxy's role in the E-Commerce Explosion.
A copy of the analyst report can be obtained by sending an email to daren@galaxymall.com with the appropriate mailing instructions.
About Galaxy:
Galaxy Enterprises is an e-solutions provider, trainer and facilitator of Internet-based businesses. Galaxy owns and operates Galaxy Mall (http://www.galaxymall.com), an e-commerce mall with over 2,600 storefronts, MatchSite.com (http://www.matchsite.com) a highly acclaimed search engine, and Impact Media (http://www.getimpactmedia.com), a provider of multimedia presentations and Custom Cut CDs.
Certain of the above statements may be forward-looking statements that involve risks and uncertainties. In such statements, actual results could differ materially as a result of a variety of factors, including competitive developments and risk factors listed from time to time in the company's SEC reports.
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