Bluestone Capital Announces Investment Opinion on BlueStone Capital Partners, L.P. Initiates Coverage on Quanta services with a 2-1 Rating.Business Editors NOTE TO EDITORS: The following is an investment opinion issued Bluestone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital NEW YORK--(BUSINESS WIRE)--March 29, 2000 Senior Analysts Jeff L. Evans, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. and Walter V. Nasdeo of BlueStone Capital initiate coverage Initiate coverage (1) Firm is now followed by analysts at a particular securities house; (2) Indication to cover short position by purchasing the underlying stock (this cancels out the short position). of Quanta quan·ta n. Plural of quantum. Services (PWR PWR pressurized-water reactor Noun 1. PWR - a nuclear reactor that uses water as a coolant and moderator; the steam produced can drive a steam turbine pressurized water reactor ; NYSE-$60) with a 2-1 Market Perform-Outperform rating. The intermediate target price is $67.00 and long-term target price of $79.00, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the analysts. Analyst's Summary -- We are initiating coverage of Quanta Services, Inc., a leading provider of contracting and maintenance services for telecommunications and electric utility customers, with a 2-1 (Market Perform-Outperform) rating. Our intermediate term price target is $67, and our long-term price target is $79. -- Several trends are driving industry growth: telecom/cable TV/utility industry convergence, deregulation, and upgrading of aging infrastructure. All of these factors support our expectations that Quanta grow 20% annually through 2003, without acquisitions. -- Quanta, with strategic alliances with industry leaders such as Enron (ENE-NYS-$72.94-Not Rated) and Utilicorp (UC-NYSE-$17.19-Not Rated), and others, is positioned to capture increasing share of the domestic market, and has international growth potential as well. -- Quanta, has grown the top line nearly three-fold since its IPO in 1998. Revenues are now running at nearly $1.2 billion annually. Its balance sheet is strong and improving. -- With operations in 25 states and a blue chip customer list, we believe that the company has achieved critical mass to execute its strategy, even without further acquisitions. The acquisition pipeline remains robust, however. The company is in active discussions to acquire companies with over $500 million in revenues. |
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