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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: D J Katich who wrote (3926)	1/30/1998 10:03:00 PM
From: James Strauss	Respond to of 7006

>>>RECY has pulled back from its highs, but it has not taken nearly the beating that MTLM and PHV have (both off about 60%). Though I am long RECY, do you think PHV trading at only about $8.0 a share represents a good buying opp. -- PHV is a billion dollar co, w/ an ESP of about $1, trading at only about $8 right now.<<< ***************************************************************** DJ: PHV has been downgraded... Some big restrucuting charges coming... Their Fundamentals up to this point have been great... It looks like that's about to change... Prior P/E's have been about 10-11... I think the stock price will settle in the 6's... That halves the current EPS est from 1.20 to about .60... Here is the news release... ............................................... Philip declines on downgrade, charges TORONTO, Jan 27 (Reuters) - Philip Services Corp [NYSE:PHV - news] stock shed more than one-third of its value on Tuesday following a ratings downgrade by Merrill Lynch after Philip said late on Monday it would take year-end restructuring charges of US$175 million to US$200 million. Shares in the waste management company were off 6.85 or 36 percent to 12.20 in active turnover of three million shares on the Toronto Stock Exchange. biz.yahoo.com Merrill said it lowered its near and long-term ratings to neutral. It may take a year for this to recover... If you're willing to wait, it could turn out to be a good investment... Jim