Joseph Parnes Recommends the Following Stocks: Andrx, Forest Labs and Valspar

Business Wire, Dec 27, 2002

Business Editors

CHICAGO--(BUSINESS WIRE)--Dec. 27, 2002

Santa Claus may not be coming to Wall Street after all, but investors can still have a happy holiday season by utilizing hedge positions. Market expert Joseph Parnes gives readers the knowledge they need to maintain this position through recommendations on Andrx (NASDAQ:ADRX), Forest Labs (NYSE:FRX) and Valspar (NYSE:VAL). Click here for the full story exclusively on Zacks.com: http://featuredexpert2bw.zacks.com/

Here are the highlights from the Featured Expert column:

Analysts continue to place emphasis on the negative side of the market, and give less attention to its strengths. Forgotten are the actions of some large institutions, such as pension funds that are shifting money out of Treasury bonds into equities. A recent lackluster performance does not mean investors are ignoring the improved fundamentals, which include sales, earnings, and fewer warnings. The market is crossing the threshold of geopolitical uncertainties causing the market to be vulnerable to profit taking, and thus casting doubt for the sustainability of the rebound for the last two months.

Long Positions

Andrx (NASDAQ:ADRX) is a generic drug maker that's on a rebound. Its recent sell-off was an over-reaction, and ignored the potential of its royalties on the generic drug "Prilosec," which could have net value of $2--$2.30/shr. Expect earnings of $1.99 per share for '03.

Forest Labs (NYSE:FRX) is a pharmaceutical manufacturer/distributor that sold off on the news of the FDA's request for additional clinical trials for possible approval of closing regimen of Lercani-dipine. There's an opportunity to take/add position. Expect earnings growth of FY '03 at $2.97 per share and $3.60 per share for '04 on track.

Valspar (NYSE:VAL), a multinational manufacturer/distributor of paint and coating products, sees its earnings growth rate in the past three quarters at 17% to 52%. The company is rebounding from its recent correction. Expect earnings of $2.70 per share for '03 and $2.98 per share for '04.

Learn the buying ranges and objectives of Joseph Parnes' above-mentioned companies, and get his short positions, simply by clicking: http://featuredexpert3bw.zacks.com/

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