John,
Thanks for the compliment!
Of interest to all...From Morgan Stanley Dean Witter (MSDW) 3-17-98 morning call:
Environmental Services: Revaluation of Solid Waste Stocks
I/ENV
Bradley T. Galko, CFA
We continue to believe that the solid waste industry is at the threshold of a new up-leg in the industry pricing
cycle based on new evidence from the paper industry. A new pricing cycle would suggest that the large-capitalization
stocks are subject to a revaluation from relative multiple discounts to relative multiple premiums. We are reiterating
our Strong Buy rating on USA Waste (UW, $46) and boosting our price target to $60, 30% above current levels.
Our target equates to 20 times (market multiple) 1999 pro forma EPS of $3.00. We are upgrading Waste Management
(WMX, $31, six-month target $38) to Outperform from Neutral, based on its pending merger with UW.
DISCLAIMER: The opinions of MSDW do not necessarily reflect mine. The above should not be considered a
solicitation to buy. Strictly for informational purposes!
I am hearing that TTRIF is currently "in negotiations" with USA Waste on a deal similar to the one struck
with Harvey Ambrose.
BTW, did anyone happen to purchase the stock I mentioned (Environmental Products & Technologies-EPTC) as a competitor to
Thermo Agri on 2-24-98 (post #2118)? It has DOUBLED (from $3.50 to $7.00) in less than a month! Not trying to take credit,
just got lucky. I'm sure trader extraordinaire Mbater took advantage!
Anyway, I also hear rumblings of something happening with International Thermo Tech (Dr. Owen Anderson) and Hong Kong.
Anyone know anything?!
Hong Kong has the third highest population density of ALL countries (including those countries with less than 5000 kmý):
rank country area (kmý) 1996 population humans per kmý
1)Macau 16 497,037 31,064.8
2)Monaco 2 31,736 16,703.0
3)Hong Kong 1,040 5,536,218 5,323.3
4)Gibraltar 7 32,072 4,934.1
5)Singapore 633 2,921,107 4,617.6
Regards,
David Pickering |
