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Biotech / Medical : SAFESKIN
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To: Steve Mintz who wrote (552)1/19/1999 10:03:00 PM
From: Steve Mintz  Read Replies (1) of 828
 
Scanner is inoperative but here's the key paragraph of the Piper Jaffray report:
"We are initiating coverage with a Strong Buy rating. With a P/E of 17.3, and with revenues and earnings growing 25%, SFSK is trading at a 25% discount to its 1999 growth rate. We expect earnings to become more predictable by mid-1999 as Safeskin's new capacity anniversaries and as the Company and its investors acclimate to a new glove environment. We are setting a 12-month price target of $35-$39 per share based on 23-25 times our fiscal 2000 estimate of $1.56 per share."
The report recognizes the possiblility of pricing pressures, but sees SFSK as a winner in that scenario, forcing the smaller players out of the market.
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