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Gold/Mining/Energy : Magellan Aerospace Corp (MAL) New Listing
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To: Roy Cetlin who wrote (382)4/22/1998 10:19:00 AM
From: Dennis Lefebvre  Read Replies (1) of 633
 
Hi Roy,

1- I think this stock is under owned as stated in a recent news release (see below).
2- When the new engine is approved in the US you will see some short sellers scramble and some previous owners of the stock say
"If I hadda".
3- The Asian problems are still not completely factored in the market as we will see in the next six months.

Take one or all of the above as possibilities

Den

Post says stock seen as undervalued
Magellan Aerospace Corp MAL
Shares issued Mar 31 close $9.60
Wed 1 Apr 98 In the News
Buy & Sell columnist Sonita Horvitch says in the Wednesday edition of the
Financial Post that Magellan Aerospace is a top stock pick of Patricia
Nesbitt, v-p of Canadian equities with Winnipeg-based GWL Investment
Management. Ms Horvitch notes the stock, recently $9.45, has a 52-week
range of $11.20 to $3.10. Ms Nesbitt says the company has strong earnings
momentum. She says that at present, the stock is underowned and
underfollowed. She says that CEO Murray Edwards has a good track record in
building companies and she believes there is more to come. Overall, GWL
continues to champion Canadian equities long-term, and is expecting the
strength in the Toronto Stock Exchange to broaden to include more small to
mid-cap stocks. President Ted Ransby cautions that the market has had such
a good run since the beginning of this year that it could enter a
consolidation and correction phase over the next several months, with a
possible decline of five to eight per-cent.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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