Fountain Power Boats (FPWR) NASDAQ Message Board

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Non-Tech : Fountain Power Boats (FPWR) NASDAQ

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To: Leland Ho who wrote (173)	11/20/1997 3:40:00 PM
From: Leland Ho	Read Replies (1) of 241

FPWR coverage initiated with a buy by Rodman & Renshaw: RESEARCH ALERT - Fountain started as buy Reuters Story - November 20, 1997 14:41 CHICAGO, Nov 20 (Reuters) - Rodman & Renshaw Inc said Thursday it is initiating coverage of Fountain Powerboat Industries Inc with a buy rating. -- "We believe Fountain offers a superior product portfolio and excellent fundamentals, in addition to being undervalued at current levels," Rodman said in a research report. -- Rodman estimated fiscal 1998 (June) earnings at $1.05 a share and 1999 earnings at $1.90 a share. Actual 1997 earnings were $0.82 a share. -- The report set a 12-month price target of $18 based on 17 times Rodman's 1998 earnings estimate of $1.05. -- It noted Fountain is introducing a series of new products, including a custom sport yacht, which will be the fastest yacht in its class. -- "In our view this new product introduction will significantly impact Fountain's bottom line over the next 12 months," the report said. Fountain manufactures sport boats, sport fish boats and sport cruisers. It shares were trading up 1/16 at 10-11/16.

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