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Non-Tech : E4L, Inc. (NYSE: ETV)
ETV 14.22+1.0%Nov 25 4:00 PM EST

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To: Chris Reynolds who wrote (36)2/26/1997 7:05:00 AM
From: Todd D. Wiener   of 1080
 
I still think this stock's in play. My bet is News Corp. will buy NM; News Corp. already owns 30% of Guthy-Renker. The wild card is Safeguard Scientifics.

Valuation of National Media: Price: $6.50

Book Value: $5.90
Price/Sales (based on calendar 1996): .42
P/E (projected FY 1998): 8.2

One year ago, it traded at 1.35x previous calendar year sales (at $21 high). If that were to happen today, the stock would be priced at about $21. That's 3.5x book value, 26x FY1998 (march 1998) EPS of .79.

Just my .02 worth. I haven't yet sold any NM. In fact, the past 2 months, I've been buying calls.

TDW
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