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According to the press release on the upgrade by Brown Brothers the analyst believes that "management is imaking meaning full progress" Retailers 1 cent profit this quarter was excellent considering the same quarter last year showed a loss of 17 cents. The estimates are that Woolworth will earn $1.64 for fiscal 1998. Last year the company earned 59 cents. The analysts see a 20% growth rate for the next 3-5 years. There is also a plan to open 400 new stores. Given a p/e of 16 if the company does 1.64 we are looking at about 26 dollars a share, and for the estimates of 2.05 for 1999 perhaps a target of $33.
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