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To: Dale Baker who wrote (31986)12/11/2002 9:12:41 AM
From: Dale BakerRead Replies (1) | Respond to of 118717
 
Growth At A Discount
Fei Mei Chan, 12.11.02, 8:30 AM ET

NEW YORK - When the mantra of growth fell out of favor with investors, value became the new trend. But it doesn't take a genius to know that value doesn't mean much if a company has dismal prospects for growth. The key to successful investing is to find companies that offer good value and are also likely to keep growing at a nice clip.

XTO Energy (nyse: XTO - news - people ) is an example. Fort Worth, Tex.-based XTO is an oil and natural gas exploration and production company and the fourth-largest independent owner of domestic gas reserves. The firm's oil and gas reserves have grown to 2.7 trillion cubic feet of natural gas equivalent. XTO is expected to post a 16% earnings increase in 2003, trades at only 14 times estimated 2003 earnings per share versus an estimated multiple of 16 for the S&P 500.