The Barrons interview is very bullish on WCOM, as all three analysts interviewed recommended it. The following is a Bloomberg report on Grubman's view, whose target of $100 in 2 years is nothing new. The stock should do well on Tuesday.
WorldCom, Others Liked by Salomon's
Grubman, Barron's Reports
Bloomberg News
May 16, 1998, 3:56 p.m. PT
New York, May 16 (Bloomberg) -- WorldCom Inc. is the only
major telecommunications company to offer a full range of
services, and if it completes its purchase of MCI Communications
Corp., will boost revenue by as much as 20 percent a year, said
Salomon Smith Barney managing director Jack Grubman, Barron's
reported in its ''International Telecom Forum.'' Grubman, who
heads Salomon Smith Barney's global telecommunications team, also
likes Century Telephone Enterprise Inc., which runs rural
telephone companies and is now the 10th largest local phone
company in the U.S. Among his other picks are Telefonica de
Espana SA, Portugal Telecom SA, Telecom Italia SpA, Hellenic
Telecommunications Organization SA, Colt Telecom Plc, Nippon
Telegraph & Telephone Corp. and Telstra Corp., the paper said.
Grubman said he would stay away from owning shares in AT&T
Corp. because it's generating profit growth from cost cuts, not
revenue growth; he also doesn't favor British Telecommunications
Plc, Singapore Telecommunications Ltd. and Tele Danmark AS.
(Barron's 5/18 35 www.barrons.com) |
