ORLANDO, Fla., Oct. 19, 2006 (PRIMEZONE) -- RedChip Independent, a division of RedChip Companies, announced today that they have initiated research on Drinks Americas, Inc. (OTCBB:DKAM).
Lisa Springer, MBA, CFA, RedChip Research Analyst, wrote in the report:
"We think a higher valuation is warranted by Drinks Americas strong near-term growth prospects. Accordingly, we are rating Drinks Americas shares a 'BUY' and setting a one-year price target of $1.40, based on a thirty-five times multiple of projected FY 2007 EPS and a seven times multiple projected FY 2008 EPS. We think these shares offer investors good appreciation potential in the coming months and above-average earnings growth over the next two to three years."
To receive an abbreviated copy of the RedChip Independent Initial Report for DKAM, please visit: http://www.redchip.com/independent/subscriber.asp?page=requestdkam.
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RedChip Independent Research Disclosure
The analysts contributing to this report do not hold any shares of DKAM. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. DKAM is not a client of RedChip Companies, or any of its affiliates.