PSUN A new breakout at $30+! Message Board

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Non-Tech : PSUN A new breakout at $30+!

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To: E. Graphs who wrote (1584)	3/1/2000 12:08:00 AM
From: E. Graphs	Read Replies (1) of 1622

Sunny times for Pacific Sunwear >>...Less one think analysts are only talking about technology stocks these days, shares of Pacific Sunwear of California (PSUN: news, msgs) brightened up 2 9/32, or 10 percent, to 24 5/32 Monday after Banc of America analyst Kindra Devaney Hix upgraded the stock to a "strong buy" from "buy." Devaney told clients the stock's recent pullback (off 30 percent in February) provides an enticing entry point for buying into the retailer. Earnings per share estimates of $1.09 for 1999, $1.35 for 2000 and $1.70 for 2001 have "excellent visibility," Devaney said adding that solid fundamentals and a strong management team "provide comfort." Devaney also noted that the company's expansion into new product categories adds visibility to sales, while continued expansion of juniors as a percent of mix was a notable driver to sales and profits. Furthermore, Devaney said growing private label penetration, especially at the company's second retail concept, d.e.m.o., adds visibility to operating margins.<< Susan Lerner is a reporter for CBS MarketWatch. (I'm telling you, this company has waited a long time to get any respect....'bout time.)

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