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SPX Corporation Message Board

  • retardood retardood Nov 30, 2004 10:40 AM Flag

    SPX Discount To Peers is Justified

    8:56 (Dow Jones) SPX Corp`s (SPW) discount to other industrial companies tracked by Merrill Lynch is justified given the company`s track record of poor forecasting and deteriorating cash flow, a potential SEC inquiry, and other issues, firm says in note maintaining neutral rating.

    Merrill cuts `04 EPS` view to $1.32 and `05` view to $2.75 from previous estimate of $3.45 for both years, largely reflecting announced divestitures. Additional sales could cut Merrill`s EPS forecast, analyst John Inch says.

    SPX`s Kendro Laboratory Products business "could be the next business to be sold", and Inch believes "there are several potential buyers," including Fisher Scientific (FSH).

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84.74+2.06(+2.49%)Dec 19 4:02 PMEST

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