Forum Archive Index - March 2003

["Lazy Haggis" <lazyhaggis@hotmail.com>]

Several Sky City Entertainment analysts (at least 6) have recently (past 
week) downgraded SKC shares from Buy to Hold. Their average forecast annual 
earnings growth is approximately 7% over the coming two years. Forecasts 
range from around 5.5% to 9.5%. Some of the analysts involved include JP 
Morgan, Credit Suisse, and UBS Warburg. If you wish further details on these 
forecasts, then you should contact the analysts directly.

A point of caution - the market typically interprets analyst downgrades from 
buy to hold, as a being a sell recommendation, especially in the current 
economic climate.

In addition, as previously stated, the proposed gambling changes and smoking 
legalisation will probably have only a short term impact - time will tell.

The deadly pneumonia virus SARS (Severe Acute Respiratory Syndrome) is 
spreading more rapidly and more deadly than expected. There still remains no 
known cure. It's starting to become deeply concerning amongst Asian 
tourists, airlines, and air travellers. For health and psychological 
reasons, many people will start to avoid places where they believe they are 
more prone to catch the virus.

The situation regarding the Iraq war should be more obvious to everyone by 
now, that this is going to have major economic repercussions worldwide, 
including airlines and tourism.

Hope this helps clarify some of the recent forum comments passed on SKC. For 
the record, I still hold some SKC shares, but 80% less than I did 6 months 
ago.

There are also several other stocks in NZ that are likely to be decimated 
this year.

Lazy Haggis

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