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A new start for Marconi 11
rifraf1 - Tue, 01 Jan 02 :
Where is the article from? Anyway a price of 45-65p is still above the closing price - and my feeling is the analyst is probably a bit negative on the stock - so a price of between 45-65p (allowing for his analysis being correct which may not be the case (Ian89)) is not too bad. Other analysts will be closer to Teather and Greenwoods figures which was over 65p i think.
Anyway, below are the Daily Mirrors comments:-
"MARCONI
I OWN up. Thirteen months ago, I tipped Marconi as a buy at 646p. The shares have since traded above that level for just two months.
True, I last told readers to buy the stock in September at 38p and this week, they changed hands at 41.75p - although that's little comfort if you've held the stock since a peak of £12.50.
But since then the real villains (me excluded) have gone and new bosses Derek Bonham and Mike Parton parachuted in to rescue the telecoms equipment maker. Both are well on the way to raising £1.2billion in cash by March by selling off non-core bits of the group.
Some analysts forecast the group, having axed 10,000 jobs, will break even in 2003. It's also expected that Parton and Bonham will renegotiate loan facilities and buy back its bonds to reduce borrowings.
Buy for recovery, and cross your fingers for a takeover bid."
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