Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: TeamTi who wrote (11762)	6/23/2003 10:09:59 AM
From: RockyBalboa	Read Replies (1) of 19428

Is Roth an earlybird or? Does he see no structural damage, still puts the target at only 0.5x "EBITDA" -> UHAL: 9:30AM AMERCO upped to Strong Buy at Roth following bankruptcy -- no impact on stockholder equity (UHAL) 4.11 +0.03: Roth upgrades issue to Strong Buy from Buy. Although co declared bankruptcy on Friday, Roth says that there is no asset liquidation involved and there will be no impact on current stockholders' equity. The plan calls for interest rates on the old debt to be adjusted to current market rates; unsecured debt will become secured debt and maturities will be extended; and co will have access to $300 mln of new financing. Roth believes the company is worth significantly more than the current stock price. At close to 1x firm's fiscal 2004 earnings estimates and an EBITDA of $21.10 a share in 2004 ($17.10 in 2003), firm believes that the stock offers significant upside potential. Target $10.

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