I recently moved back to Oklahoma and every January a local newspaper profiles of some of the in state companies as investment fodder for the next year.CMI was profiled, as usual, and has long dominated its market for road construction equipment. It recently completed an aquisition to expand its product line. A company spokesperson was quoted in the article as saying between the economy and the aquisition, they expect their sales and earnings to double in 1998. Neither of these two factors are priced into their stock as it is in the middle of it normal price range and the PE ratio is still running approximately at its historic average. A blurp in Yahoo confirmed the company had made the predictions about earnings and sales. From where I'm sitting, this stock could be a safe play, since its a rather cheap stock anyway, to maybe double, if the factors outlined above come to pass. This looks to good to be true.
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