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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (32825)	1/8/2009 12:10:55 PM
From: E_K_S	Read Replies (1) of 78625

SUPERVALU Inc. is upgraded by Moody's for various Supervalu Sr Unsecured Notes To Baa3 from B1; Moody's notes Supervalu is in Compliance with Covenants; Moody's Supervalu rating outlook Stable. Stock off it's low of $9.40 on 11/21/2008 and now trading at $17.25 up 84% from your earlier post. Good value call! I held my nose and built a position that now makes up one of my top 10 holdings. The company continues to cut costs and close their marginal producing stores. They wrote down about $14.00/share in goodwill in their last earnings report bringing their BV down to $16.00/share. This value is understated as much of their older real estate is carried at cost which is much lower than current market value. The company still carries a larger than industry debt load which management continues to work down over time with asset sales and and an aggressive payoff schedule. Free Flow Cash should begin to increase over the next 36 months which should further help to reduce debt if management determines this is the best use of this cash. ============================================================ Thank's for the heads up on this one. I am looking for a slow and steady move higher to the $25-$30 trading range. Pretty good results in such a sloppy negative market. EKS

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