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Gold/Mining/Energy : PATHEON INC. (PTI - TORONTO)
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To: Babblefish who wrote (126)5/27/1999 12:10:00 PM
From: Jenny Pillen  Read Replies (1) of 147
 
Babblefish, House 002 was purposedly pushing stock, trying to get the Johnny-Come-Lalies to jump in. I better see more positive casflow from PTI to justify a $10/share.
Patheon Inc -
Globe says Patheon stock soars for second day
Patheon Inc PTI
Shares issued 40,089,064 1999-05-26 close $10.1
Thursday May 27 1999
The Globe and Mail reports in its Thursday edition that Patheon Inc.'s shares jumped $1.40 yesterday for a two-day gain of $2.70, or 36 per cent, as one analyst raised his rating on the stock following the company's purchase of a big pharmaceutical manufacturing plant in England. Trading volume soared to 1.7 million shares, more than 10 times the daily average. Tony Yue of Canaccord Capital Corp. in Vancouver upgraded Patheon to a long-term "buy" from "hold" with an 18-month target for the stock price of $10. Another Patheon follower, Bob Leshchyshen of St. James Securities Inc. in Toronto, is sticking with a short-term "hold" on the stock until Patheon discloses details of the purchase in England and another acquisition in Buffalo. However, Mr. Leshchyshen initiated a long-term "accumulate" on the stock. Mr. Yue suggested the plant in England could generate sales of $50-million to $60-million in the first year. He based his forecast on Patheon's purchase of a plant in Italy last year, which has a work force of 234 and is expected to generate sales of at least $40-million in its first year.

(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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