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Biotech / Medical : Elan Corporation, plc (ELN)
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To: All Mtn Ski who wrote (592)11/5/1999 11:31:00 AM
From: Gary Korn  Read Replies (3) of 10345
 
ELN is looking very sick. Down to 24 on such an up day. In fact, ELN has totally missed the market recovery of the past week, and now looks to be heading to 20.

Tom,

I understand your point of view. I come at this stock from the perspective that -- unless there is some unknown news out there -- it is a compelling buy. I'm willing to take the risk, and have been adding on these down dips. There just seems to me to be a ton of upside potential:

1. Drug approvals could propel the stock.

2. The CFO is calling for $2B (double) the revenues by 2003. Even without P.E. expansion, that means a $50 stock.

3. The 4Q is supposed to be strong, even without new drug approvals.

4. P.E. expansion is always possible.

5. Consolidation into a larger player is not beyond possibility.

I'm accumulating.

Gary Korn
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