CEDC 33.00 Rating: Strong Buy

Cedc: The story is Poland is blocking CEDC's purchase of a local vodka maker. Understandably you would imagine this would hurt the stock price. Although 2006 estimates haven't taken into account any acquisitions, the 2007 estimates of 2.40 could be missed. It looks as though CEDC has no more room to grow in Poland. Again, that is the case the short sellers are making. The management is great and the stock is historically really cheap. Would look to set stop loss at 29. Target 55 july 2007