Callaway Golf -- it's a buy Message Board

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Non-Tech : Callaway Golf -- it's a buy

ELY 21.33

-2.8%

Sep 6 5:00 PM EST

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To: Don Dorsey who wrote (125)	4/24/1998 3:35:00 PM
From: Don Dorsey	Read Replies (2) of 307

I attended the stockholder's meeting yesterday, and came away with the impression that the stock is a buy here in the mid 20's, but with a limited upside of maybe 35 for the next six months. They indicated that sales in California and Florida (the El Nino states) have begun to rebound, and that Asia will be a problem for several years, except for Japan which is still doing well. There was huge growth in Europe, which should continue. Balls will be a much bigger market than clubs, but are still a year away, because they are attempting to design a better ball. They are not going to play the big money endorsement game with their competitors, so the days of 65% usage on the pro circuit are over. They have no intention of lowering club prices to answer competitor's cuts. There are 5 1/5 billion people in the world who don't golf, so they see huge growth in attracting new people to the sport. Odyssey will have a new wedge shipping in June, and should sell 3 million putters this year. It will add 2 cents earnings in '98.

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