Tyco International Limited (TYC) Message Board

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Non-Tech : Tyco International Limited (TYC)

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To: Terrapin who wrote ()	3/23/2000 8:58:00 AM
From: Clay Takaya	Read Replies (1) of 3770

Check this research summary from Merrill Lynch: Tyco International (TYC $47 7/8 A-1-1-7) FY 9 '00e $2.13 FY 9 '01e $2.60 o Tyco International is hosting a tour of AMP's MA/COM wireless subsidiary tomorrow 3/23 in Lowell, MA. o The wireless unit has sales of around $500-$600M and has operating margins in the mid-teens. o MA/COM was purchased by AMP in the early 1990s and was unprofitable for a long period of time under the prior management. o MA/COM is one of the largest producers of gallium arsenide chips for use in wireless handsets. It is also involved in open sky communications products. o In response to recent questions, Tyco International has indicated that MA/COM is a business that could benefit from a strategic review to determine what the best viable options are for it. o We believe that tomorrow's meeting will further highlight that the shares of Tyco International are undervalued. o Fundamentals appear to be strong. We estimate FY2Q00 EPS (to be reported 4/18) at $0.50 vs. $0.34 -- up 47%. o We recommend purchase with a 12 month price objective of $95. o Our preview report for 2Q00 is now available. (P. Young)

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