Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Kirk © who wrote (2309)	12/8/1997 11:13:00 AM
From: Kirk ©	Read Replies (1) of 42834

KO: More bad news for the Syrup Giant.... Citing currency pressures, Morgan Stanley Dean Witter analyst Andrew Conway lowered his 1998 earnings estimate for COCA COLA (64-5/8, down 1-1/2 @ 9:51am EDT) by $0.07 to $1.63 a share. Conway estimates that currency on a hedged basis will affect net income by 6% to 8% next year, compared with 3% to 4% in 1997. With the U.S. dollar strengthening versus currencies like the Japanese yen and the basket of European currencies, it will be challenging for Coke to increase operating profits faster than 10% to 12% in 1998. Conway estimates 1998 operating income to be $5.6 bln. vs. $5.0 billion in 1997. However, Conway said the fundamentals at the company remain very strong. (Dow Jones) ---------------------------------------------------------------------- Looks to me like there are a few less Fools today with KO down $2 to $64 with a forward looking P/E of "only" 64/1.63 = 39! I continue to be a value investor is it seems these lofty p/e stocks only have one easy direction to go....down....unless, as Bob says, a greater fool can be found or their business changes dramatically (not very likely). suite101.com regards Kirk out

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