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

To: mmeggs who wrote (2669)	1/26/1999 10:42:00 AM
From: Valueman	Read Replies (2) \| Respond to of 29987

ING Barings notes from this morning: " We learned early this morning, that the all encompassing Technology Safeguard Agreement (TSA) between Russia, the United States and Kazakstan was signed overnight in conjunction with the Secretary of State's trip to Russia.  This is positive for Globalstar because it should allow the company to resume its launch program beginning with a Soyuz-Icar launch sometime by Mid-February. As we noted in an earlier report, Globalstar's engineers have begun to integrate the satellite and launch vehicle in early preparation of this launch.  We expect four Soyuz launches beginning in February at approximately one month intervals with each carrying four Globalstar satellites followed by two more in the fall. Concurrently, beginning in May we expect three Boeing Delta II launches each carrying four satellites at approximately one month intervals and three additional Delta II's beginning in November. If all these launches are successful, the company believes it could be in service by 3Q99, however: to account for any further launch failures our model assumes revenue service in January 2000.  Should all launches proceed without failure we would see upside to our year-end 99-price target of $30, which is based on our DCF model.  We are reiterating our Buy rating and our Year-end 99 price target of $30."