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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (789)	9/12/2001 5:08:21 PM
From: craig crawford	Read Replies (2) \| Respond to of 1643

RESEARCH ALERT-Inco estimates cut, shares downgraded biz.yahoo.com Tuesday September 11, 12:00 pm Eastern Time NEW YORK, Sept 11 (Reuters) - Goldman Sachs said on Tuesday analyst Albert Arias has lowered his estimates of Inco Ltd. (Toronto:N.TO - news) (NYSE:N - news) 2001 and 2002 earnings and downgraded the nickel producers stock to ``market perform'' from ``market outperform.'' He cited weaker nickel market fundamentals, lower price forecasts and potential further delays in the development of the Voisey's Bay nickel project. ``We believe that the company's depressed earnings outlook for the next 12 months and high valuation multiples will limit the stock's ability to outperform in the near term despite Inco's strong medium term growth prospects,'' Arias wrote. His 2001 and 2002 earnings per share estimates were reduced to 47 cents and 24 cents, respectively, from 69 cents and $1.23 ''due to a reduction in our 2001 and 2002 nickel price forecasts to $2.71 per pound and $2.50 per pound from $2.89 per pound and $3.25 per pound.'' In the first few minutes of trading in Toronto, Inco shares slipped 54 cents to C$24.26, the stock's lowest price since April 9.