Stockreporter Announces Strong BUY Rec. & Yr 2000 Target $7.20,
Stockreporter Investment Opinion on Eat At Joe's Ltd.
NEW YORK, Dec 2, 1999 (BUSINESS WIRE) --
Stockreporter Begins Coverage of Eat At Joe's Ltd. (JOES)
With a Strong BUY Recommendation and a Conservative Year 2000 Price Target of $7.20 Per Share
Eat at Joe's Ltd. (OTC BB: JOES) today received a strong buy
recommendation from Stockreporter, a leading European financial
Internet publication located at www.stockreporter.de. Stockreporter
specializes in the coverage of micro-cap stocks and undervalued OTC and
BB companies. The successful Stockreporter team is one of the first
independent analysts to begin coverage of Eat at Joe's and release an
investment opinion.
Stockreporter began coverage with a conservative target price of $7.20
per share for the year 2000, thus indicating tremendous potential from
a current share price of roughly $0.30 for investors to generate above
average returns in the short, medium and long-term. "We are extremely
pleased to initiate coverage of Eat at Joe's Ltd. with a strong buy
recommendation for investors interested in above average shareholder
returns," Torsten Prochnow from Stockreporter said. "Given that the
Company intends to close several acquisitions by year-end, early
investors stand to profit from tremendous short-term potential with
upside pressure on JOES stock expected to be phenomenal right around
New Years."
"We are also projecting substantial long-term returns for investors
with our year 2000 $7.20 per share price target," Prochnow continued.
"Given the unique and successful nature of the 1950s style diner that
Eat at Joe's is rolling out across the country, coupled with its early
market lead in the $8 billion diner sector, we project that the value
of JOES shares will continue to increase dramatically throughout the
year 2000."
A comparison to the Company's industry and sector as well as the
overall S&P 500 provide further confirmation of the steep discount at
which Eat at Joe's shares are trading. In fact, JOES is trading at a
mere 0.99 price to sales (P/S) ratio for the trailing 12 months. This
is far below the industry at a 3.78 P/S ratio, the sector at a 7.59 P/S
ratio, and the S&P 500 at a 6.12 P/S ratio. The Company's 1.15 price to
book (P/B) ratio for the most recent quarter is also well under the
industry, sector and S&P 500 at P/B ratios of 5.71, 6.96 and 9.76,
respectively.
Therefore Stockreporter concludes that JOES' current stock price of
roughly $0.30 per share represents a very attractive buying opportunity
for investors looking to profit from the explosive nature of the diner
restaurant segment. Stockreporter is very confident that Eat at Joe's
shares will appreciate from today's undervalued levels and will offer
investors some of the greatest profit opportunities in the small-cap
arena over the short, medium, and long terms.
The complete JOES report issued by Stockreporter is available in
English and German and can be accessed at www.stockreporter.de.
Furthermore highlights of the JOES buy recommendation will also appear
in Barron's Magazine this Saturday, December 4th, and will also be
featured on the highly frequented Barron's-Dow Jones website at
www.barrons.com.
NOTICE
All Stockreporter recommendations are made on an unsolicited basis.
The complete recommendation and additional information (e.g.
forthcoming interviews with the CEO and the President) can be accessed
on Stockreporter's website at www.stockreporter.de, which is currently
the No. 1 micro-cap and OTC BB site in Europe, especially in Germany.
The site is completely available in both the German and English
languages. Stockreporter meticulously and independently selects the
companies that are candidates for a buy recommendation and which are
featured on the Stockreporter website.
Any Stockreporter micro-cap recommendation still includes a high degree
of risk and is at the investor's individual and own risk. Many
Stockreporter recommendations contain forms of "forward-looking
statements" that are based on the company's beliefs as well as
assumptions made by information currently available to Stockreporter
and to the general public. Such statements are subject to certain
risks, uncertainties, and assumptions. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results will vary materially from those
anticipated, estimated, or projected and the variations may be
material.
Therefore, no claim for any kind of warranty can and will be accepted
by Stockreporter. Moreover, the team of Stockreporter wants to stress
once again that all our buy recommendations are based on subjective
assessments that have been made exclusively on the basis of facts being
known to the general public.
If you have any further questions regarding this buy recommendation or
any other inquiry or suggestion, please do not hesitate to contact
Stockreporter at any time. We are very interested in maintaining close
contact with both institutional and private investors as well as OTC
and BB companies.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Stockreporter
Mr. Torsten Prochnow, +49-172-4031383
or Mr. Dennis C. Hass, +49-172-4062621
Email: contact@stockreporter.de
Homepage: www.stockreporter.de
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