Printer Friendly

THREE RESEARCH REPORTS RECOMMEND PERRY STOCK

 THREE RESEARCH REPORTS RECOMMEND PERRY STOCK
 PONTIAC, Mich., Jan. 29 /PRNewswire/ -- Three different analysts


recently issued favorable research reports on Perry Drug Stores, Inc. (NYSE: PDS) in which they recommended a "buy" of the company's stock.
 In a report dated Jan. 13, Charles E. Cerankosky, CFA, of Kemper Securities, recommended a "Long-Term Buy" on the company's common stock and a "Strong Buy" on Perry's 8.5-percent convertible bonds.
 Cerankosky projected earnings for fiscal 1992 ended Oct. 31 at $7.5 million, or 73 cents per share, compared to Perry's $6.1 million or 59 cents per share, from continuing operations in fiscal 1991.
 Bart Schneider, of Value Line, said in his report Jan. 17 that "Perry Drug Stores common has been an excellent investment since our last report three months ago ... in fact, these shares shot up 30 percent-plus since mid-October."
 Schneider projected fiscal 1992 net earnings of $8 million, or between 75 and 80 cents per share.
 The third, Ralph J. Acampora, CMT, of Prudential Securities, included Perry in a special group of "small-cap stocks," stating, "these significantly outperforming stocks go into the different groups that make up the small-cap sector. Thus, they represent the best of the best."
 In addition, Business Week in its year-end issue reported that a consensus of analysts expects Perry to earn 76 cents per share in fiscal 1992.
 Discussing drugstore stocks in Chain Drug Review's Jan. 27 issue, Dave Pinto, the paper's editor, said that Perry came in second in stock appreciation with its price increasing 100 percent in 1991.
 "Investors feel that Perry's efforts to put its house in order have begun to pay off in a big way," Pinto wrote.
 Perry, a New York Stock Exchange company headquartered in Pontiac, operates 209 drugstores in Michigan. It is the No. 1 drugstore chain in Michigan and the 14th-largest drugstore chain in the U.S.
 -0- 1/29/92
 /CONTACT: Jerry Stone, chief financial officer, Perry Drug Stores, 313-674-7783; or Berl Falbaum, 313-674-7772, for Perry Drug Stores/
 (PDS) CO: Perry Drug Stores, Inc. ST: Michigan IN: REA SU: ECO


ML -- DE004 -- 4567 01/29/92 08:58 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 29, 1992
Words:355
Previous Article:UNISYS AND MOTOROLA ANNOUNCE NEW SEMICONDUCTOR TECHNOLOGY ALLIANCE
Next Article:MAPCO REPORTS EPS OF $4.20 FOR YEAR AND $1.04 FOR FOURTH QUARTER
Topics:


Related Articles
A long-distance superconductor race.
PERRY COMO POSTPONES FOX THEATRE DATES DUE TO FLU
PERRY REPORTS 75-PERCENT INCREASE IN NET EARNINGS FOR FIRST QUARTER
PERRY DRUG STORES CITED AS 'BUY' STOCK BY TOP-PERFORMING MONEY MANAGER
PERRY DRUG STORES REPORTS RECORD SALES, EARNINGS FOR SECOND QUARTER; SEASONED STORE INCREASES IN DOUBLE DIGITS
PERRY'S THIRD-QUARTER EARNINGS UP 39 PERCENT; SAME STORE SALES CONTINUE DOUBLE-DIGIT INCREASES
PERRY ACQUIRES A.L. PRICE STORES
PERRY ACQUIRES 12 INDEPENDENT DRUGSTORES; NINE DRUGSTORES IN METRO DETROIT AREA; THREE IN OUTSTATE MICHIGAN
Former Defense Secretary William J. Perry to Join Hambrecht & Quist Board
NASD Arbitration Panel Finds Morgan Stanley Liable and Orders Full Restitution to the Perry Family.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters