Summit Technology (NASDAQ, BEAM, $31) is Cabot Market Letter's top '92 pick, says Carlton Lutts.
"Summit makes machines that use excimer lasers to correct nearsightedness and farsightedness in the human eye. Over 7,000 patients have been treated so far with Summit's UV 200 machine, with excellent results. . . . The FDA is supervising clinical trials, and FDA approval is expected in 1994. Since almost half the people in the developed world wear eyeglasses, the markets for Summits' machines are huge."
Alan Lancz, The Lancz Letter, picks Frisch's Restaurants (AMEX, FRS, $20), operator of 87 Big Boy restaurants, nine fast-food outlets and 70 franchised units.
"Over the past five years, the company has upgraded its core restaurant operations, while eliminating many of its unprofitable units, creating an ideal earnings turnaround situation. In fact, we expect profits to nearly double in fiscal 1992. In addition, FRS has several important assets which are appreciating handsomely."
"My favorite stock for 1992 is Sanifil (NYSE, FIL, $18)," says Glen Cutler, Daily Market Fax.
"Sanifil has acquired 30 landfill sites which accommodate the disposal of non-hazardous wastes. The stock was hammered down from a high above $33 during 1991 to the $15 area. Compared to other companies with similar profiles, the current P/E of 16 is about half the industry standard. . . . The stock could easily return to the $33 level during 1992. Our long-term target for the stock is in the $45 to $60 range."
"After several years of tough times primarily due to industrywide problems Texfi (NYSE, TXF, $6) is well-positioned to make considerable gains," says Larry Roesch, The Roesch Market Memo. "Due to lower petroleum prices and a realignment in its manufacturing operations, excellent progress should be made in finished fabrics, yarns, woven fabrics, and knitted elastic fabrics. Overall, 1992 and 1993 should prove to be excellent years. . . . The stock could more than double this year." "