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Technology Stocks : Winstar Comm. (WCII)
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To: pkwknk who wrote (3347)1/10/1998 9:20:00 AM
From: DubM  Read Replies (1) of 12468
 
Another article. All this press and recs could make for an interesting next week.

NEW YORK, Jan 9 (Reuters) - Shares of WinStar Communications Inc rose sharply Friday for the second straight day, following news on Thursday that the local telephone company is accelerating its market deployment plans.

Also, Salomon Smith Barney analyst Jack Grubman initiated coverage of the competitive local exchange carrier (CLEC) Friday with a 12-to-18-month target price of $71 per share.

"We believe WinStar will benefit from its ability to deploy its network faster than wireline-based CLECS due to the ease of installation of the fixed wireless technology," Grubman said in his analysis.
Grubman also noted New York-based WinStar is the largest holder of 38 gigahertz licenses, which cover 125 markets, including 49 of the 50 largest metropolitan statistical areas.

WinStar shares rose 2-1/8 to 29 on a volume of more than four million shares on Nasdaq. That follows Thursday's rise of 1-9/16.

The company's stock is just 1/4 point shy of matching its 1997 high of 29-1/4 set in November and is again honing in on its life-time high price of 32-1/4, which it attained in May 1996. WinStar shares have nearly tripled in price this year since bottoming out April 28 at 10-1/8.

On Thursday, WinStar said it expected to reach its goal of a 30-market CLEC operation one year ahead of schedule, or by the end of 1998. It initially had planned to cover 20 markets by the end of 1998 and 30 markets by the end of 1999.

WinStar said the move should raise revenue and EBITDA projections for 2000 and beyond.

15:46 01-09-98
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