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Montgomery Securities Raises Rating on Speedway Motorsports, Inc. — NYSE: TRK — from HOLD to BUY
Business Wire, August 14, 1996
SAN FRANCISCO--(BUSINESS WIRE)--Aug. 14, 1996--Montgomery Securities Analyst Bo Cheadle has raised his rating on Speedway Motorsports, Inc. (NYSE: TRK) from HOLD to BUY.
Cheadle expects the company to earn $0.65 per share in Fiscal Year (December) 1996 and $0.90 per share in Fiscal Year 1997.
Speedway Motorsports is a leading marketer and promoter of motorsports entertainment in the U.S. As the premier company in the Winston Cup Racing industry -- the fastest-growing spectator sport in the nation -- Speedway has multiple avenues of growth available to it and Cheadle believes it will exploit these opportunities to the fullest. He believes Speedway can grow its earnings at a rate of 20% or better over the next several years, with even more rapid growth in the near term.
CONTACT: Montgomery Securities
Bo Cheadle, 415/627-2609
Elizabeth Snowdon, 415/627-2747
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