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Inco (N.TO)

TOP PICK
Will buy more if it pulls back a bit here. Likes nickel. Likes all the things it will produce in the Inco/Falconbridge combination. A great scarcity value in the stock.
TOP PICK
Feels that the Falconbridge (FAL.LV-T) deal is going to close. It's a very nice fit. If that does not go through, the growth in Voisey's Bay and Goreau is enough to give them good production.
BUY ON WEAKNESS
Night and bad holding, but would like to buy it at $48. The commodity cycle still has a ways to go.
BUY
Has made an offer of to take over Falconbridge (FAL.LV-T). This is one you would buy even if the deal did not go through. They have Voisey's Bay and Gorreau which will increase their output by 50% over the next 3 to 4 years.
BUY
Has been a relative laggard in the base metals area this year. The outlook for nickel is improving. Their proposed acquisition of Falconbridge (FAL.L V-T) would be very positive for them.
BUY
Likes the Inco/Falconbridge combination. Likes all the commodities that both companies are involved in.
BUY ON WEAKNESS
Looks interesting at this price. A good Canadian large capitalization metal stock. There may be an opportunity with the Falconbridge (FAL.LV-T) merger to pick up some stock at a more attractive valuation. It will be a little more diluted, but the outlook for copper is very good.
DON'T BUY
The synergies between this and Falconbridge (FL.LV-T) are very high. Can’t see anybody else topping their bid. Not a big fan of this deal.
TOP PICK
Looks like their bid for Falconbridge (FAL.LV-T) might be the one. In the meantime, the price of nickel is going up. Has good exposure to Asian demand. Also likes their assets in Voisey's Bay and Goreau. Even if the nickel price dosen't move, their production is going to increase 50% over the next 5 years.
BUY
Would like to see Falconbridge (FAL.LV-T) and Inco merge. Likes the commodities of nickel and copper that they are in.
HOLD
When you are looking for synergies, there is notthing better than the merger with Falconbridge (FAL.LV-T). It's probably a little too late for buying it now.
BUY
Has a model price of $71. A 32% differential. Probably the high would be $60 when he would probably exit the position.
BUY
Nickle prices softened late in the 3rd quarter, but cash costs for producing materials is going up across the board so their cash costs went from $2.30 a lb. to over $3. Their merger with Falconbridge (FAL.LV-T) looks like a good combination.
HOLD
Base metals have gone from overweighted to evenweighted. This is because of an economic slowdown occurring.
BUY
They'll have their plate full for awhile to intregrate the Falconbridge deal, so there probably won't be any other takeover deals for probably 5 years at least. Just put their nickle processor on line at Voisey's Bay. Likes what the company is doing.
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