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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: EPS who wrote (1557)	4/9/1998 11:25:00 AM
From: EPS	Read Replies (1) \| Respond to of 22640

Thursday April 9, 10:32 am Eastern Time Telebras receipts are good news: Paribas NEW YORK, April 9 (Reuters) - Paribas Latin American telecom analyst William Beavington said Thursday the creation of a receipt representing 12 Telebras (TBR - news) shares was ''extremely positive'' ahead of the company's privatization. His analysis follows: Company: TBR - Telebras Country: Brazil Industry: Telecommunications HEADLINE: TBR: Telebras Lives On! Telebras Receipts Will Trade Post Privatisation. Price (April 8 1998): $123.75 Current Recommendation: BUY Price Target: $160 Prior Recommendation: BUY Analyst: William Beavington Analyst Address: New York Carlos Constantini e-mail: Telephone: (212) 841-3624 william_beavington@paribas.com crconstantini@bba.com.br SUMMARY We reiterate our $160 TBR price target. The dark cloud of liquidity concern hanging over the performance of Telebras has now been removed following today's announcement that the Bovespa will create receipts which will represent a basket of the 12 new companies to be created after privatisation. We believe this news is extremely positive for the performance of Telebras prior to privatisation. For those who can trade locally, this news negates concerns over managing a portfolio of 12 new companies. biz.yahoo.com