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Gold/Mining/Energy : Transat A.T. (TRZ/TSE)

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To: Marc Fortier who wrote (45)9/25/1997 11:58:00 AM
From: John Stopforth   of 88
 
Marc

The markets in Canada and the U.S. have been driven lately by earnings
and earnings growth. Any stock with an up side earnings surprise has
been rewarded and any stock with lower earnings has been punished.
My initial reaction to Tranzat's earnings was negative as was the
markets but on further examination everything looks ok. I think the
stock price is not in any danger but there will be only modest up
side in the stock at best.
Their next earnings report, I believe is their year end, will include August which should help.
Long term the company looks great.

John
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