BlueStone Capital Initiates Research Coverage of Party City Corporation with a Strong Buy Recommendation.NEW YORK--(BUSINESS WIRE)--Nov. 2, 1998--Senior Analyst, Catherine Skelly Skel´ly v. i. 1. To squint. n. 1. A squint. of BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital Partners, L.P. initiates coverage of Party City Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on - PCTY) with a STRONG BUY recommendation and a 12 month price target of $22-$25 per share. Party City operates a national chain of deep-discount party goods stores, including 204 company owned stores and 167 franchise stores. Prices are typically 50% off list prices, compared to 20% off comparable merchandise at other discounters. Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. Mandell, Party City's Chairman of the Board and C.E.O. founded the company in 1986. The following is an analyst summary from BlueStone Capital: -- We believe Party City offers both value-oriented and growth-oriented small cap investors an opportunity to participate in the growth of the nation's leading party goods retailer. -- We conservatively project Party City's long term growth rate at 30%. We note that the achievement of the lower range of our price target implies that the shares would still trade at a 20% discount to the market multiple on the S&P 500. -- Improving profit contribution margins are projected to result in sustained earnings growth. -- We have conviction that the prudent management team will guide this leadership company to continued controlled growth. BlueStone Capital Partners, L.P. is a full service investment banking and brokerage BROKERAGE, contracts. The trade or occupation of a broker; the commissions paid to a broker for his services. firm that delivers financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to emerging growth and medium size companies worldwide. BlueStone Capital assists clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. |
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