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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: Larry L who wrote (142)	11/12/1997 1:21:00 PM
From: dougjn	Respond to of 29986

Thanks for the news. eom. Doug

To: Larry L who wrote (142)	11/12/1997 7:47:00 PM
From: SidStock	Read Replies (2) \| Respond to of 29986

LEH: 11/11/97 Research Report on GSTRF (page 1) Headline: Globalstar: Correction- 2-Mo Launch Delay; 98 Tgt Cut to $63 Author: John Bensche, CFA/Kevin Fogarty 1(212)526-1869/7580 Rating: 1 Company: GSTRF Country: COM CUS Industry: TELECM Ticker : GSTRF Rank(Prev): 1-Buy Rank(Curr): 1-Buy Price : $51 3/8 52wk Range: $60-24 Price Target: $63 Today's Date : 11/11/97 Fiscal Year : DEC ------------------------------------------------------------------------------ EPS 1996 1997 1998 1999 QTR. Actual Prev. Curr. Prev. Curr. Prev. Curr. 1st: -0.16A -0.21A -0.21A - -E -0.29E - -E - -E 2nd: -0.20A -0.21A -0.21A - -E -0.31E - -E - -E 3rd: -0.17A -0.27E -0.24E - -E -0.37E - -E - -E 4th: -0.23A -0.29E -0.26E - -E -0.39E - -E - -E ------------------------------------------------------------------------------ Year:$ -0.75A $ -1.01E $ -0.93E $ -1.26E $ -1.36E $ -0.09E $ -0.09E Street Est.: $ -0.76E $ -0.75E $ -1.67E $ -1.16E $ - -E $ - -E ------------------------------------------------------------------------------ Price (As of 11/11): $51 3/8 Revenue (1997): 0.0 Mil. Return On Equity (97): N/A Proj. 5yr EPS Grth: N/A Shares Outstanding: 116.2 Mil. Dividend Yield: N/A Mkt Capitalization: 5.97 Bil. P/E 1997; 1998 : N/M; N/M Current Book Value: N/A Convertible: YES Debt-to-Capital: N/M Disclosure(s): C, A ------------------------------------------------------------------------------ * Company announces 2-month delay of first satellite launch to February 1998. * Service initiation also delayed 2 months to 1Q99. * Delay due to additional testing requested by SS/Loral's Telemetry, Tracking, and Control (TT&C) facility which controls the satellites. * We have revised our model based on a delayed revenue stream. The impact reduces our 1998 price target by $2 per share. Our new year-end 1998 price target is now $63. We are revising our 1997 and 1998 EPS estimates to reflect these changes. * We would use any dramatic sell-off to buy Globalstar shares. ------------------------------------------------------------------------------