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Technology Stocks : IDT *(idtc) following this new issue?*
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To: Secret_Agent_Man who wrote (7560)5/11/1999 7:37:00 PM
From: neverenough  Read Replies (3) of 30916
 
From tonights Bull Market Report,

$$$$$ IDT ON TRACK TO SPIN-OFF NET2PHONE
$$$$$ IDT ADDED TO AGGRESSIVE PORTFOLIO

IDT Corp. (IDTC) cleared a hurdle to the anticipated initial public offering of
its Net2Phone Internet telephony unit by wrapping up a $100 million bond
repurchase program. The repurchase enables IDC to move forward with other
financing opportunities and the firm said they were negotiating with other
significant investors to replace the financing. There are rumors that that
investor is Softbank, the same firm that owns a big chunk of Yahoo and 25% of
E-Group.

In addition, IDT confirmed that it is in talks with America Online and At Home
about providing Net2Phone service to their respective members.

COMMENT: How do we get our ideas? In this case we are using their service. We
used to hate phone cards and suggested to ourselves that they would never be
successful. We have come full circle and now believe that they will be big.
IDT has two phone cards: One is the 8 cents a minute fiber line and the other
is the Net2Phone service at 5 cents a minute. We are not happy with the quality
of the 5 cent line yet, but it is SO CHEAP that we love it!! The phone number
to sign up is 800-225-5438.

SO, we want to be investors in this firm. We hereby add IDT to our Internet
Portfolio at the opening price tomorrow. The all-time high is close to $40 set
last year in March. The firm did $335 million in revenues last year, up from
$135 million the year before and are on target to do well over $700 million in
fiscal 1999 and the firm is profitable. We are preparing some financials for
you and will have them ready in tomorrow's report. The market cap is about $1
billion and is a likely buyout target at some point. Our 12 month price target
is $41, an increase of 39% over today's closing price of $29.50.
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