Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.200

+2.6%

Oct 30 3:59 PM EDT

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To: Art Baeckel who wrote (22621)	1/14/2004 3:54:51 PM
From: Art Baeckel	Read Replies (1) of 22640

01-14-04 0702ET DJ JP Morgan On Brazil's Telemar-2: Strategy Cited NEW YORK (Dow Jones)--JP Morgan Wednesday raised its recommendation to overweight from neutral on equity from Tele Norte Leste Participacoes SA (TNE,) or Telemar, citing the Brazilian telecom's successful entry from fixed-line services into wireless. Telemar has recently taken more than half the new mobile clients in Brazil, JP Morgan said. "We see little to challenge this dominance in the medium term," the firm added. Telemar's strategy calls for limited investment in its existing fixed-line business. JP Morgan introduced a 12-month price target of $22 per American Depositary Receipt in Telemar. The company's shares were trading Wednesday around $17.22 per share. -By Sonja Ryst, Dow Jones Newswires; 201-938-2245; sonja.ryst@dowjones.com (END) Dow Jones Newswires 01-14-04 0946ET amtddj.inlumen.com ART

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