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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus who wrote (2192)	12/13/1999 6:22:00 AM
From: leigh aulper	Respond to of 19256

lens Concord's Picture Remains Clear. (12/13/99) Shares of Concord Camera (NASDAQ:LENS - news) have appreciated sharply over the last few weeks. Management has been on the road, and Raymond James has been talking up the stock to its client base. In fact, Chris Quilty, an analyst at Raymond James recently raised his fiscal 2000 estimate on Concord to $1.09 per share from $1.02 per share. Quilty also raised his price target to $23 from $18.50. This could explain some of the jump in the share price. Based upon a recent conversation with management, we have every reason to believe that the company is on track to deliver the strong growth that we project. The company should earn $0.32 per share in the second quarter ending December. For the year we continue to believe that Concord remains on target to earn up to $1.10 per share. Concord recently announced that it received a $26.2 million credit facility from the Hong Kong Shanghai Banking Corp. (HSBC). In other news the company announced that it will acquire Goldline Europe Ltd., a small distributor of brand name cameras throughout the U.K. The reason for the merger: To expand Concord's reach in Europe. Goldline only generated $2-3 million in sales, but specific details of this deal have not been made public. In the near-term we do not expect it to have a material impact on the operations of the company. Despite the recent strong gains, the stock can likely rise into the $20's from current levels. Admittedly, we don't see the stock going much past $25, indicating that much of our 12-month price gain expectation has already been achieved. Nevertheless, we continue to recommend purchase. Analyst: Glenn S. Curtis Updated on December 11, 1999 with LENS trading at $19.25 Recommended 12/13/99 at $19.25