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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: gruetz who wrote (6293)5/25/2000 12:45:00 PM
From: mmeggs  Read Replies (1) of 15615
 
GOldman had a note out yesterday that said it was because of three things, all sparked by the lawsuit:

1. Perception of some newfound fear in GBLX management.

2. Fear that the lawsuit will delay or inhibit the buildout. (delaying revenue generation...)

3. Fear of inability to finance remaining buildout.

I think #2 is the most relevant. GS goes on to debunk all of these misperceptions and states that the stock is "severely undervalued on a DCF basis." Reiterates Recommended List rating and $70 yearend (ahem) price target.

mmeggs
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