Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Lehman Keeps 'Overweight' on Tyco


Lehman Brothers reiterates its overweight rating on Tyco (TYC).

Analyst Robert Cornell says Tyco's 8-K and 10-Q reports look good based on his first review; no major problems were found, although he says he saw numerous instances of aggressive accounting.

Cornell says he found nothing that is expected to materially affect Tyco's earnings per share and cash flow from operations for 2003 and beyond. Cornell says the SEC still is reviewing recently received documents, but given Tyco's close communication with the SEC during the process, he doesn't expect any surprises.

Bottomline: The results of Tyco's internal review represent a clean bill of health. Cornell has a $25 target, and a $1.60 2003 earnings per share estimate.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus