Friedmans. Friedmans ist der drittgrösste amerikanische Einzelhändler, der Anfang des Jahres bereits gut gelaufen ist, konsolidiert hat, und jetzt zu
7 Euro ins Depot wandern kann.
Kursziel für Friedmans ist 12 Dollar.
Ich gehe davon aus, daß Friedmans in Kürze wiederentdeckt wird, dann wird die
Aktie schneller steigen, als Bijou Brigitte, zweifellos eines der besten Investments dieses Jahr. Trotzdem würde ich jetzt tauschen, kleiner Vorschlag.
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Updated: Tuesday, October 15, 2002 01:30 PM ET Printer-friendly version
NOTE TO EDITORS: The following is an investment opinion issued
by Dutton & Associates
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Oct. 15, 2002--J.M. Dutton & Associates initiates research coverage of Friedman's (Nasdaq: FRDM, news) with a Buy rating and a 12-month $13.05 price target. The 11-page report by J.M. Dutton senior analyst Paul Resnik, CFA, is available at
www.jmdutton.com, and at Zacks, First Call, Multex, Bloomberg, and other leading financial portals.
Friedman's is the third largest retailer of fine jewelry in the United States, operating 650 stores in 20 states in the Southeast. We believe favorable demographic trends argue for a continuation of superior relative performance for the jewelry industry through the remainder of the decade. Friedman's has shifted its focus from rapid store expansion to the improvement of profitability. Friedman's target market of 18- to 45-year-old low-to-middle income consumers is a large and growing underserved market. Friedman's shares currently trade at only 4.6x our fiscal 2003 earnings projection of $1.45 on estimated revenues of $462 million, versus P/Es of 9.5x and 11.7x for the two larger specialty jewelry retailers.
Resnik has over thirty years of experience in the investment industry, and is the principal of Resnik Asset Management Co. He has held executive positions in portfolio and securities analysis and investment strategy at major investment firms including Merrill Lynch, Paine Webber, E.F. Hutton, Shearson Lehman Brothers, and Smith Barney. At Lehman, Resnik was a member of the highly rated Equity Research Department's Investment Policy Committee.
About Dutton & Associates
Dutton & Associates is one of the largest independent investment research firms in the U.S. Its 19 analysts, primarily CFAs, have expertise in many industries including healthcare, technology, finance, banking, mining, gaming, and energy. Dutton & Associates provides economically bias-free, continuing analyst coverage of enrolled companies, and its institutional-quality research, estimates, and recommendations are carried in all the major databases serving institutions and online investors.
The cost of enrollment in the Dutton & Associates one-year research program is US $25,000 prepaid before commencement of its research activities. Dutton & Associates does not accept payment of any of its fees in company stock. Its principals and analysts are prohibited from owning or trading in securities of covered companies. Please read full disclosures at
www.jmdutton.com before investing.
CONTACT: J.M. Dutton & Associates
John M. Dutton, 916/941-4985
or
Friedman's
Victor M. Suglia, 510/874-7603
TICKERS: NASDAQ:FRDM
Schönen Sonntag noch E.