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Gold/Mining/Energy : Yogen Fruz IT'S ALIVE, IT'S ALIVE -- Ignore unavailable to you. Want to Upgrade?

To: Mark Kubisz who wrote (1324)	3/22/1999 10:13:00 PM
From: Stocker	Respond to of 2453

Re Integrated management - this is a quote from First Marathon's analyst. The new management group from Integrated Brands has successfully built and sold frozen dessert companies twice before. In the early 80's, they built a Hagen-Dazs knock-off and sold it to Kraft General Foods. In the early 90's, they built a Dreyers' knock-off and sold it to Dreyers. In both cases, the businesses aggressively took market share from the larger player until it was clear something had to be done. Shareholder value was delivered with the sale of the companies. They place YF's value at just over $5 including EPIE, but they also see upside as limited near term because of slowing revenue momentum, YF's move into a lower margin business, and higher tax rates. They project sales growth of 18% and 13% in the next two years, not counting acquisitions. Remember that this is just one analyst's opinion, but he was tight with the company too. My take - Given some here are looking for a "5 bagger" out of YF, they'll have to grow revenues a lot faster than that.