Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: JDN who wrote (3026)	11/1/1999 1:09:00 PM
From: Robert Sheldon	Read Replies (1) of 15615

Ok, I'm gonna bite again. 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. This guy has to be blind. On the CC, it was stated that in 2000 we will have PC, AC, NAC and PEC all up, running, and sharing data. By my calculations (I know Frank, I simplified things – but a fella has to start somewhere) GBLX will probably be on a revenue run rate of $20BB (on the low end – I know the number sounds high) by the end of 2000. Considering the basket of carriers I follow tend to be valued (closely correlated) at a multiple of revenues (hey folks, I do not agree with the method, but the street's revenue bias is so strong a new [probably not sustainable for more than a few years] valuation reality has been created) I can not ignore it. Anyway, the Lazard fellow is really hedging GBLX, and, his career. Too bad.

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