april 15 2002 grupo imsa sa de cv ubc bmv monterrey nl www grupoimsa com mx initial coverage diversification and leadership in its various business segments are the trump cards for s success investment recommendation market outperform price 13 11 ipc 7391 25 imc30 130 djia 10093 67 divisions steel batteries construction materials foreign sales at 46 us 156 million new investments because does not produce low fixed costs translate into a lower operating leverage completed one year of integration vp buildings imsatec benefits from exclusion mexico tariffs on imported our 12 month target is 16 80 valuation 2001a 2002e 2003e eps 0 53 37 p e 24 74x 35 43x cfps 85 79 87 47x 69x 14x capitalization stock data equity cap m 73 756 860 52 week range 7 2 14 00 enterprise value 433 155 performance 88 8 shares outstanding 813 000 dividend yield 32 6 average daily vol 51 816 book per share 20
