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Gold/Mining/Energy : Coflexip ADR CXIPY Flexible Drilling Pipe -- Ignore unavailable to you. Want to Upgrade?

To: Mel Spivak who wrote (78)	7/25/1998 1:02:00 AM
From: Braam	Read Replies (1) \| Respond to of 110

On July 10 Merrill Lynch analyst ( who rates cxipy as 2 for the short term and a 1 for long term) commented: while the award of the much discussed contract for Elf's Girassol deepwater field offshore Angola to a competitive consortium is a near term negative, we remain confident that cxipy will continue to grow -- and would accumulate shares into any weakness that results from this near-term weakness. His estimated FY98 eps is $3.20. I continue to like the market cap vs. sales ratio, i.e. 1.2 billion to 870 million. Cheers, Walt