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Technology Stocks : ITC^DeltaCom (ITCD)

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To: TMK who wrote (20)	6/23/1998 3:04:00 PM
From: MangoBoy	of 30

[NBMS - ITC DeltaCom started as 'Buy'] NEW YORK, June 23 (Reuters) - NationsBanc Montgomery Securities said Tuesday it initiated coverage of ITC DeltaCom Inc as a buy. -- said company is poised to grow revenue at a sustained 26 percent rate. -- set a $45 a share price target. -- said company's strategy for niche market growth in the southern U.S. differentiates it from its emerging telecom industry peers. -- said company's portfolio includes local carrier assets, a regional long-haul voice and data network and flexible billing platform. The company has 6,800 route miles of fiber. Companies such as AT&T Corp and MCI Communications Corp have bought capacity from ITC DeltaCom instead of building their own capacity in the South. -- said the company's partnerships with local utilities, which have contributed 3,200 of the 6,800 miles of fiber, have allowed ITC DeltaCom to reduce capital spending.

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