Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.511

+2.0%

3:50 PM EST

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To: DAY TRADER who wrote (98)	7/24/1997 5:50:00 PM
From: David R. Doerr	of 22640

My MACD line is showing a breakthrough. I'm not a big technical analyst, but the chart looks prime for a move forward. Merrill Lynch has a projected 5 year growth rate in earnings of 34%, I have seen estimates as high as $19.20 for 1999. Trailing earnings we are sitting at a multiple of 14.4, which is a 26% discount to other telecoms (which are not growing at the same rate). I would not be suprised at all to see $200 soon. There has been a lot of accumualtion of the stock in the 60s and 110 area, so we have a good base. I really think this stock is a nice story. I have some confusion over some of the Telrej and "Band A" auctioning which I'm not making sense of. I bought this stock becasue line penetration in Brazil at the time was something like 7 lines per 100 households. The economy was also growing nicely, and Cardosa has done a nice job with inflation. This is not some fly by the night company. Only my thoughts, I could be completely wrong.

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