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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Larry S. who wrote (49252)9/18/2003 8:53:41 AM
From: Ron McKinnon  Read Replies (1) of 53068
 
07:27 ET PVN Providian upgraded at Wachovia (11.35)
Wachovia upgrades to Outperform from Mkt Perform and raises their 2004 est to $1.25 from $1.00, well above consensus of $0.91; by Q4, firm expects all major earnings drivers (loan growth, margin, credit) to be headed in the right direction, and unless the U.S. economy falls back into recession they believe the co could deliver EPS close to $2.00 by 2005, which could result in the stock price doubling within two years, even without any multiple expansion. Sees valuation range at $14-$15.
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