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Non-Tech : Gehl Company

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To: Michael Bakunin who wrote ()8/21/1997 3:10:00 AM
From: Michael Bakunin   of 97
 
Mr. Dahl's been buying more; he now owns almost 8% of the outstanding shares. His SEC filing is at
sec.gov

I was getting nervous after the bouncy ride on which the stock price has been, but I am mollified after plugging in the numbers. Trailing PE is around 13, and if the unnamed analysts reporting to Zacks a la Yahoo are to be believed, earnings will continue to grow steadily over this fiscal year & next; see
quote.yahoo.com

This is key; if Gehl does not outgrow its peers, then it is approaching fair value; Case's PE is now only a little higher than Gehl's at 14-15, and Case is forecast to grow earnings almost as much (FY98/FY96 forecasts: CSE, +20%, GEHL, +22%).

michael
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