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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (9601)	1/24/1999 7:56:00 PM
From: Tim Luke	Read Replies (1) \| Respond to of 90042

Sunday January 24, 7:21 pm Eastern Time Some food stocks are looking good - Barron's NEW YORK, Jan 24 (Reuters) - Despite giving investors indigestion for the last few years while the stock market soars to record levels, some analysts think food industry valuations are beginning to look attractive, according to an article in Barron's. The paper said that the group trades at less than 90 percent of the market price-earning multiple and if food stocks continue to languish, takeover activity could reignite after a decade of dormancy. The price/earnings ratio of the food group relative to that of the S&P 500 has fallen sharply in the past year, Barron's said and most major food stocks now trade at 18 to 22 times projected 1999 profits, which are likely to be about 10 percent above 1998's. Bestfoods (NYSE:BFO - news), H.J. Heinz (NYSE:HNZ - news), McCormick (Nasdaq:MCCRK - news) and Sara Lee (NYSE:SLE - news) were among stocks mentioned as potential buying opportunities.