Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Wachovia Keeps 'Buy' on Tyco

Wachovia reiterates buy on Tyco (TYC).

Analyst Wendy Caplan says Tyco's selection David Fitzpatrick, who formerly served as CFO of United Technologies, represents good news for Tyco shareholders. Fitzpatrick will take over as executive vice president and CFO.

Caplan says the relatively quick selection process suggests Fitzpatrick was at or near top of CEO Ed Breen's "list." She views Fitzpatrick's industrial background (18 years at General Motors, four years at Eastman Kodak and United Technologies) along with his experience in simplifying reporting structures and restructuring operations as positives.

Caplan raintains her $2.00 fiscal 2002 (Sept.) earnings per share estimate and the $2.15 2003 estimate. She has a $23 target, implied by shares trading at 10 times the $2.30 calendar 2003 earnings per share estimate and a sum-of-the-parts analysis.

blog comments powered by Disqus