text_combined: ene reiterate buy believe leadership still intact ene reiterate buy believe leadership still intact ene underperformed peer group energy merchants stock price 39 52 week high 90 august 23 vs peer group 1 9 reiterate buy rating stock believe weakness largely due concern ene group high p e multiple peg ratio 27 x 1 3 x respectively group average 19 x 1 0 x coupled series concerns various parts enron business bandwidth india etc sense bandwidth unit performing target likely beat strong numbers posted last quarter india significant issue remains small part enron asset base 4 legacy business view materially affect overall view company see ene business fundamentals intact fact improving growth rate expansion 25 20 growing returns capital bandwidth trading good reasons stock justify premium valuation raymond c niles power natural gas research salomon smith barney 212 816 2807 ray niles ssmb com ene 5 18 01 reiterate buy doc ene 5 18 01 reiterate buy pdf