Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.450

+3.0%

3:56 PM EST

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To: Napoleon Solo who wrote (3)	6/22/1997 4:27:00 PM
From: David R. Doerr	of 22640

This stock just keeps on going and going, a couple years back it did stall but patience sure pays off with companies like this. I really thinks it should be a good one for a long time to come. FYI on the press release. Friday June 20 1:14 PM EDT RESEARCH ALERT-Telebras estimates raised SAO PAULO, June 20 (Reuter) - Caspian Securities said it has raised its year-end 1998 price target for Brazil's federally-owned telecom giant Telebras to $200 per American Depositary Share (ADS). Caspian analysts Joanne Showalter and Tony Figueiredo also raised their 1997 and 1998 earnings estimate for Telebras to $12.60 and $17.20 per ADS from $11.65 and $16.20, respectively. They also reiterated their buy rating on the company's shares. ``Our earnings revision is based on the positive impact of rate rebalancing, the end of autofinancing and the recently announced revenue-sharing agreement between Embratel and the local operators in the Telebras system,'' they wrote in a report. They added the new estimates also assume moderately faster 1997 line growth of 12 percent year-on-year versus a prior estimate of 11 percent and continued cellular expansion with 90 percent year-on-year growth in subscribers in 1997. Caspian also forecast 1999 Telebras earnings at $19.15 per ADS, they said. Moreover, their price target of $200 ``represents a potential capital appreciation of 37.3 percent,'' they said. Telebras' ADR(TBR - news) was up 1-1/4 at 144-1/2 in New York, while its preferred (TEL_P.SA) was off 1.15 percent at 155.40 reais and its common (TEL.SA) was down 2.44 percent at 139.50 reais at 1406 local time/1306 EDT in Sao Paulo.

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