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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 55.27-5.3%12:32 PM EST
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To: Mr. Adrenaline who wrote (5316)6/23/1999 12:47:00 PM
From: Jim Parkinson  Read Replies (1) of 29987
 
Some analysts at least have a sense of humor as evidenced by Morgan Stanley's latest report (6/22 by Marc Nabi) "IRIDIUM ATTEMPTS TO GLOBALSTARIZE ITSELF" "IRIDIUM'S RE-TARGETING IS RATHER GLOBASTAR-ESQUE." Could it be that he has invented a couple of new words to add to your Funk & Wagnels?

He goes on to say Iridium's plan won't work paraphrazing G* lack of concern as per Nick Edwards' article. He maintains an outperform rating and states "WE CONTINUE TO BELIEVE THAT GLOBALSTAR HAS THE RIGHT BUSINESS PLAN TO SUCCEED, AND RATE THE SHARES AS OUTPERFORM WITH A YEAR-END 1999 PRICE TARGET OF $25 AND YEAR-END 2000 PRICE TARGET OF $30." I strongly disagree with those targets especially $30 in 2000 but then Marc is only an analyst. He does repeat what he has said in the prior 3 reports "WE THINK OUR ASSUMPTIONS FOR THE MSS SUBSCRIBER UNIVERSE ARE CONSERVATIVE, AND BELIEVE IF THE MSS MARKET EXCEEDS OUR INITIAL EXPECATATIONS, THE POTENTIAL FOR GLOBASTAR INVESTORS COULD BE EXTRAORDINARY."

I tend to agree which is why I have been investing in G* and Lor since 1995, long before Morgan Stanley ever started coverage so they had no influence on my decision. Robert Kaimowitz formally with Unterberg Harris did spark my interest when they intitiated coverage on both G* and Lor on Jan 9, 1995. I still feel Kaimowitz has a good understanding of the industry. He was never real keen on Iridium.
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