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Technology Stocks : ICAB I-Cable Television Network

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To: Felix Keung who wrote (23)12/20/1999 10:49:00 AM
From: blankmind  Read Replies (1) of 42
 
*MERRILL STARTS I-CABLE <ICAB.O> AS NEAR-TERM, LONG-TERM BUY

NEW YORK, Dec 20 (Reuters) - Merrill Lynch said on Monday it initiated coverage of i-Cable Communications Ltd. <ICAB.O> as a near-term and long-term buy.

-- said it believes the recent price decline creates an attractive buying opportunity.

-- set a 12-month price target of HK$12.50 per share or US$32 per ADS.

-- i-Cable has strong programming and position on key sports rights for next two to three seasons.
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