I have owned the stock since $5 and continue to be bullish,
as I have visited multiple locations, spoken with management,
and feel very comfortable with the company's strong growth and fundamentals. While some older stores are being updated to the newer,
more consistent model, management maintains the appropriate control
over its franchisees. It must protect and establish its brand.
The numbers and growth speak for themselves. Similar to Art, I spent
a lot of time speaking with customers and store managers and got
the sense that this is a great and still, somewhat, an undiscovered story. Based on my analysis, the stock is still only trading at 11 X
'99 earnings, which makes it attractive. While it appears that it
may have gotten ahead of itself it terms of an unsustainable runup,
I believe that it will make it's way back into the mid to high teens
on the basis of a strong 1Q and the company's internet rollout, as
detailed by Elliot on this thread....Terry |
