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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who wrote (1752)	1/10/2002 12:04:05 AM
From: Softechie	of 2155

Broadwing (BRW) 9.96 -0.59: -- Morning Note -- Merrill Lynch downgrades to long-term BUY from long-term Strong Buy, reflecting on (1) Broadwing's November 29 restructuring announcement; (2) continued sluggishness in the wholesale and commercial long distance businesses; (3) a weak broader economy; and (4) soft corporate IT spending. Broadwing (BRW) 9.35 -0.84: -- Before Open -- AG Edwards downgrades BRW to Hold from Strong Buy. BroadWing is up over 35% from its low reached after the industry reported a weak Q3; Q4 will likely produce marginally weaker results than the third. AG Edwards notes the current environment is very difficult across the board for industry participants with little visibility to the magnitude or timing of an acceleration in demand for broadband services. Broadwing (BRW) 9.66 -0.54: -- Before Open -- BRW's announcement of the details of its restructuring plans yesterday provoked cautiously optimistic reviews from industry analysts: Lehman Brothers sees the company as best positioned among the broadband providers but shares do not appear cheap relative to broader telecom landscape; Morgan Stanley admits BRW's actions are necessary but believes it's still to early to become positive on the stock; Salomon Smith Barney remains convinced the BRW [and Q] represents good, hybrid value opportunities with upside kickers if the broadband business rebounds. Broadwing (BRW) 9.61 +0.21: -- Morning Note -- Raymond James upgrades to STRONG BUY from Buy rating with price target of $20 as valuation is compelling; industry contacts indicate financial stability, service quality, redundancy, and price are key drivers in current environment, all positive for Broadwing. Lehman Initiations (OPENX) : -- Before Open -- Lehman Brothers initiates coverage of emerging bandwidth sector with a cautious near term view; sees long term value in assets and services, but funding, leverage and macro-economic demand issues create difficult environment for the shares; starts Williams Comms (WCG) and Broadwing (BRW) with Buy ratings and Level 3 Comms (LVLT) and Global Crossing (GX) with Market Perform ratings. Broadwing (BRW) 11 -4.33: -- Update -- Morning Note -- Robert W. Baird downgrades to MARKET OUTPERFORM from Strong Buy as firm believes the reduced guidance and uncertainty regarding the FY02 outlook will weigh on the stock near-term; remains positive on Broadwing's longer-term prospects given the company's solid financial condition and its competitive position.

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