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Technology Stocks : Advanced Radio Telecom (ARTT) -- Ignore unavailable to you. Want to Upgrade?

To: DubM who wrote (1049)	4/16/2000 12:37:00 AM
From: Obewon	Read Replies (2) \| Respond to of 1176

Their point of view is that nothing IN THE BUSINESS or CURRENT MARKET OFR TELECOM SERVICES has changed. I agree that TeraBeam is not the pancea that its been crowned as by certain parties. However, the analyst(s) writing this report are pretty much in denial that some fundamental damage has been done to all the fixed wireless players due to the recent volatility. None of the guys involved in the report have been through a market correction before (analysts don't last 13 years on Wall Street). The fact that this report came out tells me that the investment firm is trying to talk up the stock to individual investors while their bigger clients dump it. Their price targets will undergo a sharp revision downward as analysts factor in the expectation of increased risk. All three of the picks reinstated as Strong Buys will require alot more capital to build out and the cost of capital just took a quantum leap up (by 1-2%). This will have a huge effect on their (already optomistic) financial models. The only way they will be able to justify the current discount rates they are using is if the markets reverse themselves next week and we see a test of the highs in late summer. Obewon/VG