Office Product Stocks - ODP/SPLS/OMX/VKNG/CEXP/OFIS/BOP Message Board

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Non-Tech : Office Product Stocks - ODP/SPLS/OMX/VKNG/CEXP/OFIS/BOP

SPLS 10.25

0.0%

Sep 28 5:00 PM EST

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To: Bill Brogan who wrote (66)	5/12/1997 10:05:00 PM
From: AL TOTH	of 297

Bill-Since that post of April 9, I have done a significant amount of research on CEXP. I have 2 accounts, one for my daytrading and another for my long term investments. What I was looking for was a non-tech industry company (to eliminate volitility),with a low share price, low P/E, little or no downside risk and significant upside potential. Surprisely, CEXP met all these criteria. The original P/E I was going by was 32, but the source providing it was wrong. Because CEXPs fiscal year ends the end of FEB.,some source were calculating the P/E based on calendar year 1996. Its correct P/E is 16-17 which is now 5% below the industry average. Basically CEXPs stock price was trashed not because of problems with its core office product business but because of problems with its recently acquired delivery business. I knew this would happen but now that the stock is down from its high of 30 1/4, it has been significantly punished and is very undervalued. IMO CEXP is very capable of straigtening out its new delivery company..It has also hired a significant number of top executives to handle its future growth more effectively. My prediction is that in 1 to 2 quarters CEXP will show quarterly results that show its delivery problems are resolved and its growth mode is back in action. Once that happens the stock price will rise dramatically. Ive put my money where my mouth is too. For the last two weeks I have had Smith Barney convert my entire investment portfolio with them to CEXP stock. The only criteria I gave them was to buy under $10 after commissions. If everything goes ok,I see a$20 stock. Best case scenario is $30 in 12 - 18 months. I think the heavy volume you see is the institutions and funds also stockpiling the stock looking for the same scenario. The stock is not rising because the results arent there yet and wont be for awhile. AL

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