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Technology Stocks : BE Aerospace (BEAV) Breakout
BEAV 64.470.0%Apr 21 4:00 PM EDT
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To: Paul Berliner who wrote (119)12/8/1998 1:44:00 PM
From: Piotr Koziol  Read Replies (1) of 210
 
BEAV has more backlog orders it can use !!! See this from YAHOO:
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Morgan Stanley, CS First Boston
by: chalowilca
1345 of 1350
Morgan Stanley analyst Peter Chao, in a recent research report stated that the issuance of debt instead of
4 million shares of equity in the purchase of SMR could add 20 cents per share to next year's EPS of
$3.45. The $70 million charge for in-process R&D related to the SMR purchase was taken last quarter
since the sale was completed in August. Chao went on to state a $45/share 12 month target based on
outstanding fundamentals going forward. He stated that a 10% reduction in Boeing orders would result in
only a 3% drop in revenues, which could be easily made up elsewhere since BEAV is more dependent on
the aftermarket, etc. Chao stated that EBITDA next year should be close to $200M. CS First Boston
stated a 12 month target of $55 and said that BEAV, after the $200M debt placement has a wieghted
average cost of capital of around 9.5% compared to a return on invested captial that will be over 18%.
Quiet a spread.
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Not to worry :^)

/Piotr
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