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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (675)	12/15/1997 1:27:00 AM
From: ed doell	Respond to of 18998

Subject 13371 Interesting, no? Ed

To: Mr. Pink who wrote (675)	12/15/1997 8:25:00 PM
From: David S.	Read Replies (1) \| Respond to of 18998

Regarding the sauce, or the bbq (BBQZY), JP Morgan has written a nice research report on it, and I've been in one of their stores. The original IPO filing range was 14-16, the deal was done at $11 the week the dow was down 560 on that Monday - poor timing? stock gets dumped due to lack of interest, Aussie currency begins slipping. All of the growth will be in USA as they open more stores, and being that they import merchandise from the land down under, the US portion of the biz actually will benefit from a lower aussie currency. At 4x '98 ebitda, it's probably a low risk way to trade up to 6x '99 ebitda within 12 months, which would put the stock at $17-18 in 12 months (not much higher than the original IPO filing range), but who cares about the orignal filing range. I was going to start a thread about this, but I'm too lazy. Having met management, I feel pretty comfortable about it - they even gave me a free barbeque apron.