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Gold/Mining/Energy : CANADA PAYPHONE - CPY(vse)
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To: Richard Saunders who wrote ()9/20/1999 11:24:00 AM
From: canadian crude  Read Replies (1) of 171
 
Sept 17, National Post

Turning to another area of the communications sector, Canaccord
has chosen:

- Canada Payphone Corp. (CPY/VSE) $1.70 ($4.10-$1.30). This
is colleague Jeff Rath's selection as a "speculative buy."

Based in Burnaby, B.C., this company installs pay phones and
Internet terminals across Canada, covering a range of payment
options and online features. The company has a strategic alliance
with AT&T Corp. for branded pay phones. It also has an
agreement with Elcotel, a U.S. manufacturer of pay phones.
Management's emphasis is on pay phones and it is moving more
slowly on its public Internet terminals roll-out.
Mr. Rath says the high cost of wireless communication protects the
pay phone sector. As a national pay phone services provider, the
company's strategy is to provide pay phones for all large landlords.
These customers now negotiate with each of the provincial telcos.
Mr. Rath says the new president and chief executive, Bruce Clark,
who was appointed late last year, has restructured the company,
which has reduced operating costs by about 50% and strengthened
its balance sheet. "This reorganization plus its recent track record of successful installations are positive for the company."
Mr. Rath's 12-month target price on the stock is $3.
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