Nuevo Grupo Iusacell (CEL) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Nuevo Grupo Iusacell (CEL)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Rob Preuss who started this subject	8/30/2001 7:30:03 AM
From: Dennis Roth	Read Replies (1) of 206

Salomon cuts Mexico's Iusacell to ``neutral'' biz.yahoo.com MEXICO CITY, Aug 28 (Reuters) - Investment bank Salomon Smith Barney said on Tuesday cut its outlook for Mexico's No. 2 wireless phone company Grupo Iusacell (NYSE:CEL - news) to ``neutral'' from ''outperform'' because of lingering issues of funding. Salomon said that Iusacell must fund its growth, so a potential future rights offering would mean a dilution of the shares. The investment bank said its new price target is $4, down from its previous $16 forecast. The investment bank also lowered its outlook for net revenues in fiscal year 2001 to 6.1 billion pesos ($669 million) from 6.3 billion pesos, while it dropped its fiscal year 2002 revenues forecast to 6.9 billion pesos from 8.2 billion. Salomon added that based on Iusacell's second-quarter results, the company is forecast to post a loss of $0.19 per American depositary receipt in 2001 and a loss of $0.53 per ADR in 2002. ($1 equals 9.12 pesos)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next