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To: The Atheist who wrote (811)	3/25/1999 9:31:00 AM
From: Craig Jacobs	Respond to of 13157

INDUSTRY RELATED: RESEARCH ALERT -AT&T stock called 'absurdly cheap' NEW YORK, March 24 (Reuters) - Lehman Brothers analyst Blake Bath on Wednesday reiterated a buy rating on AT&T Corp. (NYSE:<http://quote.yahoo.com/q?s=t&d=t> - news </n/t/t.html>), and said the stock was ''absurdly cheap.'' -- said businesses that will drive near-term growth, such as wireless, data, wholesale and solutions unit, are showing accelerating revenue and profit growth. -- said AT&T Chairman C. Michael Armstrong confirmed in a meeting with Lehman that year 2000 revenue growth would exceed the expected 1999 growth of 5-7 percent. -- believes AT&T ''is absurdly cheap given its accelerated fundamentals and long-term growth prospects.'' Shares of AT&T gained 2-3/4 to 80-1/4. -- believes investors have been distracted by recent debates over AT&T's plans to pursue telephone services over cable systems. Said that by the year 2000, investors' concerns over cable plant, systems integration and capital spending will be resolved. -- said AT&T began 1999 with several challenges, such as integrating the Tele-Communications Inc purchase, forging cable partnerships, and implementing the British Telecommunications Plc (quote from Yahoo! UK & Ireland: BT.L <http://finance.yahoo.co.uk/quotes/ukie/quote?symbols=BT.L&detailed=t>) partnership. Said execution in these areas will be crucial to long-term growth of the company. -- said AT&T also began year with a strong portfolio of growth businesses. -- said Armstrong indicated the company signed up 120,000 Personal Net subscribers in the first six weeks, well above company expectations. Personal Net combines various phone services. -- said expects the wireless business to show accelerating revenue and profit growth in 1999, driven by the success of the Digital One Rate plan. Said EBITDA margins should also improve