screaming buy, page-4

re: screaming buy - not consencus recommendation Depends on what broker report you read ,or which way you look at the stock ??




SALOMON SMITH BARNEY suggests the market has read too much into
ownership changes at ADSTEAM MARINE's competitor in Melbourne and Brisbane, Australian Maritime Services.

The broker said the real focus should be on the ADZ turnaround story, with the mix of a new CEO and a commonsense strategy makes Adsteam a compelling story.
"In our view, investors could potentially reap a 50 per cent
return over the next 12 months" the broker says.
The firm adds "It's not that towage has suddenly become a dynamic industry - volumes are flat at best - its about unlocking value by cost cutting and efficiency gains and better use of the company's
strong cash flow".
The broker values Adsteam at $1.734 a share on a DCF basis, but
it jumps to over $2 a share after planned asset sales. Adsteam is trading more than 50c below that level.