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Non-Tech : Delphi Automotive Systems (DPH)
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To: JakeStraw who wrote (83)11/13/1999 7:58:00 PM
From: Sam Citron  Read Replies (3) of 397
 
Delphi gets "strong buy" from Wasserstein Perella auto analyst Scott Merlis in 11/14/99 Barrons:

relevent portion of his interview follows--

" Delphi, the former GM unit that is the largest parts supplier in the world,
with $28 billion in annual revenues-80% of it from its former parent. The
company actually has some of the auto industry's better exposures to
electronics, mobile communications and multimedia products. These are all
very high-margin businesses, and they will drive Delphi's sales growth with
companies other than GM. The growth of non-GM business will boost
Delphi's stock, because a diversified customer basis usually helps valuation.
Our target price for Delphi is 25, up from 16 now. And we see them earning
about $2.06 a share next year. The company's cash flow is huge, and that
could lead to stock repurchases. The balance sheet is very healthy. So with
good management, good technology, strong cash flow and a low valuation,
this is a "strong buy." "
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