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Gold/Mining/Energy : Dorel Industries (DII.B , M or T) good earnings report
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To: Hassan Lakhani who wrote (42)7/1/1998 1:25:00 PM
From: Jay Arkay  Read Replies (1) of 96
 
Hassan, That is certainly good news. Coverage initiated and a BUY recommendation for Dorel Industries made by A.G. Edwards, a fairly large U.S. securities firm. This is the kind of development that could begin to propel Dorel shares to the above-market PE multiple that they deserve. At a PE of 30, which is not at all out of line for the company's rapid growth in recent years, this would equate to a price above C$75 based on this year's projected earnings, and around C$90 sometime next year based on 1999 projected earnings. Hang on for further gains, or buy in if you don't already have Dorel in your portfolio. Jay
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