PTET - Platinum Entertainment...the next KTEL??? Message Board

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Technology Stocks : PTET - Platinum Entertainment...the next KTEL???

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To: Tom Trivett who wrote (70)	2/24/1999 10:49:00 PM
From: PAT JENNING	of 167

RESEARCH ALERT - Platinum Ent. <PTET.O> upgraded CHICAGO, Feb 24 (Reuters) - Barrington Research Associates analyst James Goss said Wednesday he is raising his rating on Platinum Entertainment Inc. to strong buy from long-term buy following recent weakness in the stock price. "The stock price has faded to a level that provides significant upside to our target price," he said, noting his target price of $11.50 is more than 80 percent above the level at which the company is currently trading. Shares in Platinum Entertainment, which produces and distributes recorded music, were trading up 1/16 at 6-3/16 on Wednesday. Goss, however, revised his 1998 estimate downward to a loss of $2.50 a share from a loss of $1.75 a share. The change partly reflects fallout from Universal's acquisition of PolyGram, which had a distribution relationship with Platinum for its first line releases. Universal Music Group parent Seagram Co. Ltd. <VO.TO> purchased music giant PolyGram NV in a $10.4 billion deal late last year. He noted the company is recording a charge, which he estimated at about $0.20 a share, in the fourth quarter to establish a new distribution center in Atlanta, Ga. 18:53 02-24-99

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