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August 30, 2004 Stock Pick: Dynegy, Inc. (DYN)

Stock Price: $4.32

Dynegy, Inc. is an electricity and natural gas provider. The company has recently sold off parts of its business including their Michigan Power Facility and a sale of their interest in a Virginia Power Facility as well.

The company can now focus on its core business now that it has sold off a major part of its non-core operations. For Q2, the company reported net income of $10 million and earnings guidance for 2004 of $0.03 to $0.08.

If the company hits on the high end of its earnings guidance, we believe DYN will be greatly rewarded. Right now, the stock has been trending up and could break its 52-week high of $5.30 in the near future. The stock has had trouble breaking the $4.40 level, but if it does, expect a jump in shares.

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