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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Brian K Crawford who wrote (3025)11/1/1999 12:14:00 PM
From: JDN  Read Replies (1) of 15615
 
TO ALL: Where is everyone?? Surprised no one posted the new analyst on board. JDN


NEW YORK, Nov 1 (Reuters) - Lazard Freres analyst Matthew Janiga said Monday he initiated coverage of undersea fiber optic network builder Global Crossing Ltd. <GBLX.O> as an outperform and a year-end 2000 price target of $45 a share.

Shares of Global Crossing were off 1/16 at 34-9/16 on the Nasdaq stock market.

Janiga said he believes Global Crossing will have one of the most advanced and comprehensive global broadband networks, an asset he expects will allow the company to capitalize on the vast demand for domestic and international connectivity.

Said Global's acquisition of Frontier Corp., announced in September, should accelerate its shift into end-user services. Expects Global to expand from being "simply a purveyor of broadband capacity" into a leading provider of integrated business solutions.

Said global bandwidth and services expected to be $1 trillion in 2005, and Global's network assets should position the company well to address the growing demand for data services, which are growing at six times the pace of voice services, according to International Data Corp., a market research firm.

11:19 11-01-99
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