Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 61.62

-4.7%

Jan 30 9:30 AM EST

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To: djane who wrote (2751)	2/3/1999 2:02:00 PM
From: djane	Read Replies (1) of 29987

RESEARCH ALERT-J.P.Morgan starts communication cos (via LOR yahoo thread) Wednesday February 3, 10:44 am Eastern Time NEW YORK, Feb 3 (Reuters) - J.P. Morgan said Wednesday it started Iridium World Communications Ltd. (Nasdaq:IRIDF - news) with a market perform rating, Globalstar Telecommunications Ltd. (Nasdaq:GSTRF - news) with a buy rating, and ICO Global Communications (Nasdaq:ICOGF - news) with a long-term buy rating. -- Iridium expects to add 500,000 to 600,000 subscribers to its network in 1999. -- J.P. Morgan expects Iridium to remain in its current valuation range if it is successful in adding 250,000 subscribers to its network during 1999. -- with Globalstar and ICO entering the wireless carrier market place in 1999 and 2000, competition will increase and may stifle Iridium's profits. -- Target price for Iridium by the end of 1999 is $37 and $47 by year end 2000. -- J.P. Morgan initiated coverage of ICO with a $19 year end target price. -- According to J.P. Morgan, ICO's market penetration rate translates at year end 1999 into a worth of about $4.5 billion or $19 per share based on the discounted cash flow analysis. -- ICO is the only mobile satellite services company to own its ground network. This will enable it to maintain end-to-end control over the majority of its call traffic. -- J.P. Morgan initiated coverage of Globalstar with a $30 target price, as the stock has significant room for upside appreciation given the company's potential revenue and cash flow generation power shortly after the start of services. -- J.P. Morgan believes the company's satellite launch in the second half of February 1999 will renew investors' confidence in the deployment schedule and drive the stock higher. -- Globalstar's cost structure pro rated over the lifetime of its network under similar capacity scenarios is lower than that of its peer group. -- Iridium shares were off 1/16 at 33-1/8, Globalstar shares were up 7/16 at 19-7/16 and ICO Global shares were up 1/8 at 14-3/8

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