123 Trends and Reversals Message Board

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Strategies & Market Trends : 123 Trends and Reversals

QQQ 635.77

+0.5%

Oct 29 4:00 PM EDT

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To: Ally who started this subject	2/14/2001 11:29:35 PM
From: Ally	Read Replies (1) of 147

GX - Global Crossing - one of my favourite stocks. My reasoning is simple: after the JDSU and GLW boom, next boom companies bringing home the bacon would be those with installed fibers. Light them up, and cash flows in. GX today reported a stellar 4th quarter. Here's a section from a ZDNet article looking ahead: Company executives reiterated their fiscal 2001 sales target of between $7.1 billion and $7.3 billion and said current analysts' estimates calling for a loss of 76 cents a share in the first quarter and $3.01 a share in the fiscal year were "reasonable." "This is the leading undersea transport company in the world," said Pat Comack, an analyst at Guzman & Co. "That's what's bringing home the bacon now. What concerns the Street is the notion that it's only a transport company. At the end of the day, investors want to see some retail customers." Ahead of the earnings report, Comack predicted Global Crossing would lose 82 cents a share on sales of $1.52 billion. He rates the stock a "strong buy" and maintains a 12-month price target of $73 a share. "The stock is trading at really, really cheap levels," he said. "But there are various factors that make investors uncomfortable about the stock. But there's no disputing that they have really cool technology and have managed to build out their network. Other companies are struggling to get the financing they need to build out their networks while Global Crossing is almost finished." Last quarter, Global Crossing posted a loss of $572 million, or 65 cents a share, on sales of $1.37 billion. The stock moved as high as $61.81 last February before slipping to a low of $11.25 in November. Twelve of the 13 analysts following the stock rate it either a "buy" or "strong buy." Complete article: zdii.com

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