Stockchase Opinions

Sandy McIntyre Specialty Foods Ltd. HAM.UN-T PAST TOP PICK Aug 25, 2003

(Was a top pick June 19/03.No change.)Was affected by the mad cow disease scare.Still like it.
$10.180

Stock price when the opinion was issued

food processing
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BUY
Trading below its issue price. Hedged their US dollar exposure. Aggressivly taking costs out of the system.
TOP PICK
They were caught by rising costs and falling sales which depressed distributable income, however they were able to get around this and pay normally. Good management and good price.
SELL
Could fall under some potential risk if legislation is changed regarding taxability of US domiciled businesses. When a trusts has a bad mark, they tend to sell.
WEAK BUY
Has had a very rocky ride because of the mad cow scare. Seems to be recovering and compared to some equity stocks is not too bad.
WATCH
Is trying to reorganize it's finacial debt, so it's a bit uncertain. Has not shown the characteristics of a company that's about to turn around.
SELL
It has had a lot of problems since the beginning. Debt levels are extremely high and they are looking to refinance their debt.(but it has not happended yet). Sell if you own.
SELL
Specialty Foods Group's operating margins have been squeezed. They have had very limited pricing power. He is inclined to move on to something that is working.