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 7/10 Very Good --- communities.canada.com http://network.nationalpost.com/np/blogs/tradingdesk/rss.aspx
Friday, July 04, 2008 --- 47 days ago http://network.nationalpost.com/np/blogs/tradingdesk/archive/2008/07/04/allen-va
| While it may be a “show me” story right now, shares of counter-terrorism device maker Allen-Vanguard Corp. could jump 100% or more immediately if the company receives contracts as part of major anticipated programs, according to Versant Partners analyst Neil Linsdell. The stock is down more than 50% this year as investors react negatively to disappointing guidance and uncertainty regarding military orders for the maker of electronic counter measures (ECMs) that combat weapons like improvised explosive devices (IEDs). Allen-Vanguard continues to trade near $2.50 per share, but Mr. Linsdell continues to rate the shares a “buy” with a $9 price target, saying the shares are trading on ”extremely pessimistic assumptions” of less than $290-million in revenue next year, while the company has indicated more than $575-million. His bullish forecast is also due to optimism that over the long-term, the company will have “great growth” from continuing demand for their products and services and that the stock will rise rapidly when formal announcements of major programs emerge. These include several ECM contract for Iraqi Security Forces and the U.S. Marines. “In the long-term, we think the company is well positioned, with the right products and solid partners,” Mr. Linsdell told clients. “In the short-term however, investors will be cautious of claims of huge opportunities and upcoming orders for fear of program delays and revenue slippage.” Jonatha ... |
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