Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: torquatus who wrote (17897)	10/7/2003 12:56:34 PM
From: boneil55	Read Replies (1) of 18998

HAYZ latest Q, HAYZ generated roughly 50 mil in 'operating earnings' last Q, but that was after fresh start accounting adjustments and reorg items. Adjusting for those, and you arrive at roughly a 20 mil figure (EBITDA was roughly 60 mil) -- not quite as exciting. After the results, it looks like HAYZ should be able to pull of EBITDA of roughly 240-250 mil for the year. 5.5x that number (fairly conservative mult) gives you a 20.0 to 22.5 stock. Not 50, but not that bad either. --Brian

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