Bruce Campbell (1)Quebecor WorldIQWTOP PICKAug 18, 2003
The stock is down quite a bit.Economically sensitive.Trading at about 10 times very lowered earnings.Hoping that they will show growth as the economy recovers.Have had management problems.
Has had massive management turnover in the last three years. Have just had the first decent quarter in some time. European operations are starting to turn around. Probably have seen the bottom in regards to stock performance.
Showing a bit of accumulation on a long term chart. If it breaks through the $27 area, that would be the time to buy. At that time, it should run through to at least $32/33. Could use call options to catch that point.
Thinks the same problems of corporate governance still exists. Changes made have not gone far enough. Not a fan of the Chairman or the corporate strategy. A lot of debt.
There are concerns about management. On the other hand, it's one of the leading printers of the world. The commercial printing field has not been the greatest for the last year. 2½% dividend. Relatively cheap.
World Color Press was a good acquisition. Unfortunately, they lost a couple of CEOs. Too much management turnover. Will wait to see if things get better.