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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (4667)12/9/1997 2:26:00 PM
From: Michael Berkel  Read Replies (1) of 95453
 
Mike, according to Bear Stearns - not the worst of the analysts out there - FGII will show a growth rate of 80%. Based on this growth rate and the fat p/e valuation for comparable growth stocks, FGII should have a much higher p/e figure than the 14x estimated 1999 earnings, which is the actual valuation.
Ok, admitted, this is a cyclical business, so 20x 1999 might be justified?? Or too conservative? What do you think?
Therefore my short term target is 20x$2.55 or $51.00 before the February '98 expiration. Today I loaded my wagon.
When do you think we will hit that number?

Michael Berkel
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