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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Curtis E. Bemis who wrote (975)	5/15/1998 10:18:00 AM
From: Kevin G. O'Neill	Read Replies (1) \| Respond to of 3873

It keeps hitting my limit buys, predictably. This time at 50. I wonder if it'll hit my next one? <g> -kgo

To: Curtis E. Bemis who wrote (975)	5/15/1998 2:42:00 PM
From: Sauron	Respond to of 3873

Any stock, whether of a great company or a dismal one, can get overvalued. At $50/share, LVLT has a $7.5 billion market cap. Roughly $3 bb of this can be explained by its cash (pre high yield deal) and its stakes in RCN, Commonwealth Telephone, and Cable Michigan. Add in another $100 mm for the coal mine (your guess is as good as mine on that one) and you get $4.4 billion market cap attached to a good mgmt team and a business plan. That is still roughly twice the market cap of IXC. This stock got run up to unsupportable levels on bulletin board hype and is now trying to find fair value in the light of day.