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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Dragonfly who wrote (5692)	4/5/1999 10:18:00 PM
From: ajs	Respond to of 10852

04/05/99 Loral Space & Commun (LOR $15.93,1-H,Tgt $23.00) John B. Coates --SUMMARY:--Loral Space & Communications--Satellite Technology & Service Loral's Orion 3 is set for launch tonight. The satellite has 54 transponders, and will serve the Asia-Pacific region. This is the second attempt for the Delta III rocket. The first ended in the failure and loss of PanAmSat's Galaxy X satellite in August. The next Loral-related launch is four Globalstar satellites on April 15. We reiterate our Buy (1H) rating, and maintain our $23 price target, which is 44% above current levels. 04/05/99 Loral Space & Commun (LOR $15.93,1-H,Tgt $23.00) --EARNINGS:----------------------------------------------------------------- FYE 1 Qtr 2 Qtr 3 Qtr 4 Qtr Year Actual 12/98 EPS $(0.11)A $(0.27)A $(0.08)A $(0.23)A $(0.68)A Previous 12/99 EPS $N/A $N/A $N/A $N/A $(0.66)E Current 12/99 EPS $N/A $N/A $N/A $N/A $(0.66)E Previous 12/00 EPS $N/A $N/A $N/A $N/A $(0.70)E Current 12/00 EPS $N/A $N/A $N/A $N/A $(0.70)E Previous 12/01 EPS $N/A $N/A $N/A $N/A $N/A Current 12/01 EPS $N/A $N/A $N/A $N/A $N/A Footnotes: 04/05/99 Loral Space & Commun (LOR $15.93,1-H,Tgt $23.00) --FUNDAMENTALS:------------------------------------------------------------- Current Rank........:1-H Price 04/01/99......:$15.93 Prior Rank..........: Target Price........:$23.00 P/E 12/99...........:N/AX 52 Wk Price Range...:33.62 - 11.25 P/E 12/00...........:N/AX Proj. 5yr EPS Grth..:N/A% Return on Equity 98.:N/A% BookValue...........:$6.77 LT Debt-to-Capital..:40.50% Dividend............:$0.00 Revenue 1999........:$1682.00 mil Yield...............:N/A% Shares Outstanding..:289.00 mil Convertible.........:No Mkt. Capitalization.:$4603.77 mil Hedge Clause(s).....: Comments............: 04/05/99 Loral Space & Commun (LOR $15.93,1-H,Tgt $23.00) --OPINION:------------------------------------------------------------------ ORION 3 SET FOR LAUNCH: Loral's Orion 3 satellite is set for launch late tonight. The Hughes-built satellite will be carried on a Delta III rocket into orbit and then placed into service after reaching its final location at 139 degrees East (which is above Papua New Guinea). Also, the satellite has 54 transponders, and will serve the Asia-Pacific region. The launch window, which starts at 21:14, is generous and stretches for almost one hour and 15 minutes. We note that the Delta III's maiden flight last August ended in failure and the loss of PanAmSat's Galaxy X satellite. This is that rocket's second attempt with a commercial payload. WE REITERATE OUR BUY (1H) RATING: We believe that investors should accumulate Loral at these levels, particularly in front of the upcoming launches as we believe that launches are catalysts for stock movement. Another upcoming Loral-related launch is the launch of four Globalstar satellites scheduled for April 15. We reiterate our Buy (1H) rating, and maintain our $23 price target, which is 44% above current levels. --------------------------------------------------------------------------