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Technology Stocks : AT&T -- Ignore unavailable to you. Want to Upgrade?

To: Mark Palmberg who wrote (2078)	3/25/1999 10:52:00 AM
From: Skywatcher	Read Replies (1) \| Respond to of 4298

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. 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 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 CHRIS Next Previous \| Previous \| Next \|