The Wall Street Journal -- July 9, 1997
FLORIDA JOURNAL
SOUTHEAST JOURNAL
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QUARTERLY REVIEW & OUTLOOK:
Experts' Picks Have
Tough Act to Follow
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By Karen L. Tippett and Rick Brooks
Staff Reporters of The Wall Street Journal
Nice comeback.
In the second quarter, the experts' Southeastern stock picks
delivered a nifty performance. Six regional stocks selected by
representatives at various brokerages and investment houses
averaged an eye-popping 20% gain, beating most broader market
averages.
That's quite a change from the first quarter, when an earlier
group of stock selections declined by an average of 10.4% amid a
lackluster market.
Can anyone top this most recent showing? It won't be easy, but
nonetheless, six of the region's analysts and money managers
agreed to test their skill by choosing potentially hot stocks for
the next three months. Here's a look at their selections:
Rusty Creighton
Portfolio Manager,
Barnett Capital Advisors Inc., Jacksonville
Is it too late to buy stock in Tech Data Corp., which saw its
shares vault 30% to $31.44 last quarter? No way, says Mr.
Creighton, who describes the computer and software distributor as
one of the more stable stocks in the volatile technology sector.
In the fiscal first quarter ended April 30, the Clearwater, Fla.,
company's net income rose 75% to $18.2 million, or 41 cents a
share, beating analysts' estimates by an impressive five cents.
Even so, the stock still trades at a relatively reasonable 18
times projected earnings for the current fiscal year ending in
January, Mr. Creighton says.
The good times will continue, he says, as Tech Data amasses more
purchasing clout with computer makers, bolstering its operating
efficiency. Further, analysts say the company's recent purchase
of a majority equity stake in German rival Macrotron AG could
boost Tech Data's earnings during the next year.
More important, Intel Corp.'s recent decision to slash prices of
its Pentium microprocessors could spur computer demand later this
year, predicts Mr. Creighton. "I see this as part of the catalyst
that could help Tech Data's stock outperform the market," he
says.
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Stock Pickers' Third-Quarter Plays
June 30
Stock Picker Stock (Symbol) Price
Rusty Creighton Tech Data (TECD) $31.44
Stephen Laffey CryoLife (CRYL) 11.94
Daniel McKinley Miller Industries (MLR) 16.00
Kenneth Smith Family Dollar Stores (FDO) 27.38
Gary Tapp WestPoint Stevens (WPSN) 39.13
Pedro Verdu MedPartners (MDM) 21.63
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