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Technology Stocks : Loral Space & Communications

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To: ebg51 who wrote (10281)11/8/2002 1:21:32 PM
From: SafetyAgentMan   of 10852
 
Lehman Brothers 11/08/02 Investment conclusion

In light of these weak results and our perception of the coming 4Q, we remain not too hopeful about good short-term equity performance. We are maintaining our $2 valuation, as a measure of fair value. However, we do not think that the large differential between the company's market price and our perception of fair value can be bridged until Loral's operations shows much greater stability. This means that although possibly undervalued, Loral is a very risky, long-term story.

I will try and post more if I have time later.
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