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Non-Tech : Cendant Corporation (NYSE:CD)
CD 5.710-5.3%Dec 26 9:30 AM EST
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To: Maven who wrote (3617)2/27/2002 8:49:52 AM
From: JakeStraw   of 3627
 
Travel and real-estate giant Cendant (CD), created by the 1997 merger of HFS and CUC International, is one company that appears to have been unfairly tarnished by the post-Enron crisis of confidence in the accounting industry, Fidler said. Investor wariness may not be a shock after Cendant agreed in 1999 to pay $2.8 billion to settle a shareholder lawsuit alleging fraud at the former CUC.

Yet those woes are well behind the company, Fidler said. Cendant has been funding the settlement out of free cash flow and rid itself of the problematic CUC businesses, he said. What's left is a "cash-flow machine" that can be bought at six times expected 2002 cash flow and 12 times earnings, Fidler said, predicting the stock, which closed Tuesday at $15.59, could eventually climb to the mid- to high-20s.
marketwatch.com
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