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twitterMGC Communications’ stock upgraded in response to digital service plans
Monday, Oct. 4, 1999 | 11:16 a.m.
Manuel Recarey of Auerbach, Pollak & Richardson Inc., raised his rating from "buy" to "strong buy" and said his 12-month target price is $40 a share.
The stock closed Friday at $19.69.
"MGC is at a point where they can stop talking about what they are going to do and start doing it," Recarey said.
The New York analyst said investors should be enthused about the large markets where DSL will be offered.
"Las Vegas is a great testing ground for the rollout of the product," Recarey said. "But putting it into Southern California, Atlanta and the Chicago area could really be big."
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