Fuji Photo Film"One Japanese firm stands out as first rate...

STOCK WATCH N NHC 4B

July 03, 1991|By OPINIONS ON STOCKS OFFERED BY INVESTMENT EXPERTS.COMPILED BY STEVE HALPERN FOR KNIGHT RIDDER

Fuji Photo Film

"One Japanese firm stands out as first rate -- Fuji Photo Film (OTC, FUJIY, around $50)," says Richard Band's Profitable Investing.

"The stock trades at about 16 times this year's estimated earnings, which is way below the average Tokyo stock and lower than many U.S. blue chips with similar growth prospects. Fuji has quadrupled its sales and profits over the past decade. In America, the company has doubled its market share over the past seven years . . . Our goal for the stock is a double in price by 1994."

Glaxo Holding

"In our view, the investment outlook of Glaxo Holdings (NYSE, GLX, around $41) is better than ever," says David Saks, Wedbush Morgan Securities.

"The company has one of the strongest new product pipelines in the blue chip drug sector . . . This company's growth prospects are supported by extraordinarily productive research, powerful marketing, a strong balance sheet, solid dividend, high profit margins and limited generic competition . . . Our target price is $60 to $65 within two years."

Grand Metropolitan

"Grand Met (NYSE, GRM, around $24), a British-based international producer of branded consumer products, is expected to steadily improve from the depressed results posted in the first half of the year," says The Outlook.

"Its growing food and drink operations, which include Pillsbury, Green Giant, and Smirnoff, are performing well, while its Burger King operations appear to be improving. We look for earnings of $2.55 a share this year, up from $2.40 last year. Earnings of $2.75 are likely next year."

Telefonica Espana

Charles Brandes, Brandes Investment Management, likes Telefonica de Espana (NYSE, TEF, around $25), the Spanish telephone monopoly.

"Currently, the stock is trading at about 5 1/2 times earnings [and] only about 75 percent of book value. That's too cheap. Further, the stock is yielding a little over 6 percent. Meanwhile, Spain's economy is growing very rapidly, and the 1994 Olympics in Barcelona should get people more interested in investing in this region.

Meanwhile, we are buying shares at current prices."

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