Salton May Be Set To ReheatBy
For a small-cap company specializing in household appliances, Salton (SFP) has been a huge winner in the stock market. Its stock, which traded at 15 in late April, vaulted to 33 11/16 in late August. It has since scaled back to around 27, but if its fans are right, Salton should heat up again. Analyst Peter Schaeffer of Donaldson, Lufkin & Jenrette thinks the stock will hit 40 in a year. Money manager Doug Raborn, who heads his own investment firm, Raborn & Co., thinks Salton could go even higher--to 45, based on his 2000 estimated earnings of $3 a share. "The steady flow of new products at Salton has attracted big customers, including Wal-Mart Stores, Kmart, Sears, and Target," says Raborn.
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