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Technology Stocks : COLT Telecom (COLT) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Mohebbi who wrote (23)	10/18/1998 8:07:00 PM
From: Bob Mohebbi	Read Replies (1) \| Respond to of 95

Colt Telecom shares rated 'accumulate' as Merrill Lynch initiates coverage LONDON (AFX) - Colt Telecom Group PLC's reputation for quality tailored telecom solutions and its plans to expand its services into many more European cities has led Merrill Lynch to start coverage of the stock with an medium-term 'accumulate' recommendation. In a note published today, the telecoms team at Merrill Lynch -- led by Simon Carrington -- said: "We believe Colt can successfully expand its business into many more European cities, delivering strong growth well into the future." Colt announced on Sept 28 that its fifth German fibre optic network in Duesseldorf is ready for service. It already has services in Frankfurt, Hamburg, Munich and Berlin. On a discounted cash flow basis, Carrington estimates that Colt is worth 475 pence per share, which would be Merrill Lynch's 12-month price target. It also pointed out that Colt shares are currently some 49.8 pct below the high of 831 pence seen on July 16. At 1:25 PM, shares in Colt were 19 pence higher at 417, whilst Cable & Wireless Communications PLC were 11 pence lower at 385 and Telewest Communications PLC 6-1/4 pence stronger at 113-1/2.