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Non-Tech : CDWN - Colonial Downs (1st Horse Track in VA since 1800s)
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To: dave luken who wrote (62)8/28/1997 8:58:00 AM
From: H.J. Schellenberg   of 158
 
Hey, no offense taken. Everyone's opinion is welcome here.

200 OTBs is what Peterson sees as the maximum after 5 years. I would be happy with half as many and the stock would be at $100 with a quarter of that number.

BTW, $9.00/.94 is still a P/E under 10. I try to look one year out to determine where a stock should be. That's where I get my figure of $15-20 for fair value right now. I think a forward-looking P/E of 16-22 is very conservative for this stock. Others may argue it should be worth more now, but I try to stay conservative and not get too optimistic.

Thanks for the posts. I think you'll feel better about the stock at $15.00
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