Maxus Energy's Global Pockets Of StrengthBy
Maxus Energy, which has been floating in red ink since 1986, finally turned profitable in the first quarter of this year, and some analysts think the oil-and-gas producer will be in the black for all of 1991. But the Street is down on energy stocks and hasn't paid much attention. So Maxus Energy has meandered between 7 and 9 since January. But that's just fine for big investors who scout for undervalued energy producers. Those pros figure that with Maxus' huge overseas assets, its shares could double in the next 6 to 12 months. The stock was as high as 16 in 1987.
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