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AXXel Knutson Initiates Coverage: MDC Holdings, Inc. [MDC-27 1/2]
Securties analyst, AXXel Knutson of TradingWeapon.com initiates coverage of homebuilder M.D.C. Holdings, Inc.
FOR IMMEDIATE RELEASE
CONTACT:
AXXel Knutson, Chief Investment Officer
TradingWeapon.com
107 Mountainview Rd.,
Warren, NJ 07059
Phone: 908-647-5750 FAX: 708-585-6185
http://www.tradingweapon.com
axxel@blast.net
Analyst Upgrade of Opinion: M.D.C Holdings, Inc. NYSE [MDC-27.50]
November 5, 2001: [Warren, New Jersey] Axxel Knutson, President & Chief Investment Officer [CIO] of TradingWeapon.com in Warren, New Jersey, an OSJ* office of First Allied Securities Inc., an NASD/SIPC member, today initiated coverage of M.D.C. Holdings, Inc. [MDC-27.50] with a "Strong Buy" rating. According to Knutson, " The decline in the price of homebuilder MDC since the spring of 2001 at $48.45 now reflects a value, at less than five times earnings, that current economic expectations and very low, 40 year low, interest rates suggest could propel the stock from current levels back to or near the double top in the high 40's. Given a continuation of MDC's already superior performance, its 1% dividend yield and its low PE multiple, we estimate a long-term price objective of approximately 15-18% over that May high or roughly $55-60. We further think that the overall environment for home purchases is attractive." TradingWeapon.com is located at 197 Mountainview Road, Warren, New Jersey 07059 TEL: 908-647-5750.
AXXel Knutson
www.TradingWeapon.com
axxel@blast.net
For additional information visit: www.tradingweapon.com
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