To those who are losing faith, just a reminder that Lazard Freres believes CVUS is worth at least $13.75 per share. See below:
Dow Jones Newswires -- June 4, 1997
CellularVision -2: Lazard Freres Sets Price Target Of 13 3/4
AP-Dow Jones News Service
NEW YORK -- Lazard Freres & Co. initiated coverage of CellularVision USA Inc. (CVUS) with a buy rating and a 12-month share-price target of 13 3/4, said analyst John Hodulik.
The firm expects CellularVision, New York, to lose $1.24 a share in 1997 and $1.39 a share in 1998, Hodulik said.
Despite the expected losses, the company has excellent potential, Hodulik said, because it will soon offer a high-speed Internet connection in New York that will be superior to the current offering from Nynex Corp. (NYN) in both price and speed.
In addition to the potential of the Internet service, CellularVision seems poised to expand its wireless cable system, which is currently available in parts of New York City.
The company's share price has 'created a buying opportunity for forward-thinking investors,' Hodulik wrote in a research note.
CellularVision shares recently were up 3/8, or 5%, to 7 7/8 on volume of 76,700, compared with average daily volume of 44,100.
--------------------------------------------------------------------------------
|
