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Non-Tech : Foster Wheeler (FWC) beaten down but why

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To: wolfgangl who wrote ()8/6/1998 8:48:00 AM
From: Paul Getman  Read Replies (2) of 24
 
I am not an expert on FWC. However, like you, I can't find any good reason why FWC's stock price is plunging. The book value is around $17 and the dividend yield is now over 5%. FWC's fortunes are partially tied to Asia and to oil prices, neither of which are favorable, but that impact should have been fully discounted in the drop from the high 40's to the low 20's. Value Line and Merrill Lynch rate FWC a hold, but UBS still rates it a strong buy.

Incidentally, the company released a press release several weeks back in which it said that it couldn't account for the plunge in its stock price!

Paul
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