Someone has something to sell. Unfortunately it is an AS Goldmen stock:
Tuesday August 21, 8:02 am Eastern Time
Press Release
SOURCE: Berry-Shino Securities, Inc.
Berry-Shino Securities, Inc. Starts Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) With a Strong Buy Recommendation: 12 to 18-Month Target: $15
NEW YORK, Aug. 21 /PRNewswire/ -- Berry-Shino Securities, Inc., a valued-added full service brokerage firm, with broker dealer operations in Arizona, New York, California, Colorado and North Carolina, has initiated research coverage on Perma-Fix Environmental Services, Inc. (Nasdaq: PESI - news) with a Strong Buy Recommendation: 12 to 18-month target: $15.
Based on its qualitative and quantitative research analysis of Perma-Fix Environmental Services, Berry Shino has identified numerous catalysts that support the fact that the stock is extremely undervalued. According to Berry-Shino, this is based on Perma-Fix's existing fundamentals and the future growth opportunities surrounding the Company's Nuclear Services Division.
In its report, Berry-Shino sees Perma-Fix's estimated 5-year secular growth rate at 42.5% and believes that the Company will enjoy strong cash earnings and EBITDA outcomes starting in fiscal 2002.
Berry-Shino focuses on several investment positives in its report that support a higher equity valuation for the stock.
For example, Perma-Fix's recent strategic acquisition of the assets of the East Tennessee Materials and Energy Corporation (M&EC). It included M&EC's Oak Ridge, Tennessee nuclear mixed waste treatment facility situated on the Department of Energy's (DOE) Oak Ridge, Tennessee K-25 weapons facility. M&EC's assets also included three subcontracts with the DOE currently valued at $100 million for treatment services of the DOE's nuclear (mixed) legacy waste at their Oak Ridge, Tennessee facility, that has been stored and untreated since the 1950s.
According to the Berry-Shino report, several other paramount positives are noted as follows:
Perma-Fix has access to an estimated $7.2 billion market opportunity with regard to the US Department Of Energy's legacy waste (stored & untreated) on the Government's DOE Oak Ridge, Tennessee site.
* Perma-Fix possesses dramatic barriers-to-entry in treating chemically
hazardous, nuclear (mixed) waste by virtue of its nuclear (mixed)
treatment proprietary technology, nuclear waste treatment permits and
licenses.
* The Company has virtually little or no competition in its DOE operating
space, providing Perma-Fix with a decisive advantage in this
substantial market.
* Perma-Fix's existing intangible asset value, after its acquisition of
M&EC, with regard to its nuclear (mixed) waste permits and licenses and
its existing hazardous waste permits and licenses, could now approach
several hundred million dollars, relative to duplicating these very
valuable proprietary assets.
Overall, Berry-Shino believes there are several strategic catalysts in place that could drive the stock higher over the near-term.
Perma-Fix Environmental Services, Inc. is a national Environmental Services company, providing unique and proprietary hazardous, mixed and industrial waste management services. The Company operates two divisions: Nuclear Services and Industrial Services. The Nuclear Services division is the fastest growing division for Perma-Fix.
For additional information, please contact us directly at 212-209-7374 or 212-209-7376.
The information discussed in this press release is intended for informational purposes only. The information contained herein is based on sources believed to be reliable, but its accuracy, together with any estimates or forecasts contained herein, is not guaranteed and subject to change without notice. The information contained in this press release is not intended to be a complete record or analysis of the security or securities mentioned, nor is it intended as an offer or solicitation to sell or buy the security or securities mentioned herein, nor be a suitable recommendation for all investors. Berry-Shino Securities, Inc., and/or their officers, employees and members of their families may, at times have positions in any securities mentioned or discussed herein, and may purchase or sell these securities, from time to time, in the open market. The securities mentioned may be sold to or bought from customers on principal basis by this firm. This press release contains certain statements, which express the belief, anticipation or expectation of future events and these statements only apply prospectively and should be considered only as forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties. The Company's actual results may differ materially from the projected results discussed above.
Berry-Shino Securities, Inc. is a member of the National Association of Securities Dealers. CRD number: 38098.
SOURCE: Berry-Shino Securities, Inc. |
