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June 27, 2006
Phelps Dodge undervalued says Bear Stearns, Tues., June 27, 2006, 11:00 AM
The Equity Research team at Bear Stearns has issued a report today that opines that the Inco-Falco acquisition would be a good one for Phelps Dodge, and that the PD shares, while likely to trade lower until a deal is done, are under-valued and rated out-perform.
On the other hand, while I like Phelps Dodge (It's in the Cara Global Best 100 Companies list), I think that this deal will not be done, and THAT would be a good reason to buy the stock on the dip. If the deal does go ahead, I think PD stock will languish for a year while it tries to achieve the potential synergies.
Posted by Posted by Bill Cara on June 27, 2006 11:00:22 AM | Category: 15 Materials