It looks like at least one firm thinks the cash flow BE is 1.4M:
C.E. Unterberg, Towbin Gives EchoStar A Buy Rating
C.E. Unterberg, Towbin and analyst Rober Kaimowitz re-initiated
coverage of EchoStar communications with a buy rating and a price
target of $30-$35 over the next 12 to 18 months.
"Our enthusiasm stems from the degree of success that EchoStar has
been able to achieve in growing its core DBS business subscriber
base," the firm said in a research brief. "We expect the company to
reach the 1 million subscriber mark by year-end and add
approximately 750,000 new subscribers in 1998."
C.E. Unterberg, Towbin suggested EchoStar should become cash
flow positive with just under 1.4 million subs in the second quarter of
1998. The firm went on to say that EchoStar has sufficient capital to
fund operations without the need for additional debt.
The company also said EchoStar will see 51.1 percent revenue
growth for 1999 to $1.265 billion, 30.3 percent revenue growth for
2000 to $1.65 billion, and 16.7 percent top-line growth for 2001 to
$1.9 billion. Subscriber counts should reach approximately 2.4 million
in 1999, approximately 2.9 million in 2000, and approximately 3.3
million in 2001, C.E. Unterberg, Towbin said. |
