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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (57257)	5/17/2016 11:32:56 AM
From: E_K_S	Read Replies (1) of 78666

Phibro Animal Health Corporation (PAHC) - two Buys @ $17.41/share (5/10) on missed earnings; short on revenues. There was concern of FDA warning letter for feed w/ antibiotic causing potential problems when used for swine production. There may/could be future guidelines for usage that may/could limit amounts of antibiotics used and for different animals (including swine and chicken). This may/could impact 10% of revenues for this product line, specifically feeds used in the U.S.. Growth still big world wide (non-U.S.). At 9 PE and and 3%-5% growth stock still undervalued at current price. Company has response to FDA in study to be released in July that may/could reduce concerns w/ current applications of feed w/ antibiotics. It's an industry wide concern in U.S. but no simple solution given current industry growing standards. I owned this company in 2014 but missed the run up to $40.00/share. I consider this a GARP type stock. If/when FDA issue is resolved, stock s/d move higher. EKS

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