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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Bill Fischofer who wrote (11777)6/15/2001 10:52:33 AM
From: gruetz  Read Replies (2) of 15615
 
Goldman Sachs said earlier this week that GX management meeting one-on-one with analysts and investors this week in NYC would be a catalyst to a rebound in GX price. It didn't work with CSFB. They said their meeting with Casey resulted in their lowering cash rev and adj EBITDA estimates significantly starting with Q4'01. They stated that anticipated reductions in IRU sales as a trend leads to some funding issues for firms like GX that depend on IRU sales for funding. They now see a funding shortfall. It makes you wonder why GX didn't do the convertible issue a couple weeks ago when offered.

Now they give us a target of $14, down from $44. BS!!!
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