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Technology Stocks : Global Crossing (GLBC) -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (6)	9/27/2006 10:49:36 PM
From: tech101	Respond to of 70

Message 22853839 Global Crossing Ltd. EPS (FY Dec) 2006E ($10.40), 2007E ($4.85) Buy/Neutral (GLBC) $20.42 Source of opportunity Recent management comments, including those made at our recent Communacopia conference, give us increased confidence in the positive operating momentum at Global Crossing. Comments suggest that the revenue pipeline remains as robust as ever (we estimate 5% sequential growth in the Enterprise/Carrier Data segment in 3Q2006). In addition, the cost-cutting objectives through access and real estate initiatives remain on track. The company appears on track to hit EBITDA positive in 3Q and comments suggest a $30-$40mn quarterly run-rate exiting 4Q. This means three straight quarters of $20-$30mn in sequential EBITDA improvements. We have raised our price target by $2 to $25, and 4Q2006 and 2007 EBITDA to $30mn (up $5mn), and $136mn (from $112mn).