BancBoston Robertson Stephens Covers Tower Automotive
13 January 1999
BancBoston Robertson Stephens Initiates Coverage of Tower Automotive With A BUY Rating
SAN FRANCISCO, Jan. 12 -- The following is being issued by
BancBoston Robertson Stephens, a member of the National Association of
Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens managing director and industrial growth
stocks analyst Michael Mach initiated coverage today of Tower Automotive, Inc.
with a Buy rating. Tower Automotive, with operating headquarters
in Grand Rapids, Michigan, provides car and light truck manufacturers with
components that provide vehicles with structural integrity. It is a leading
global designer and manufacturer of metallic body structures and suspension
assemblies.
"In 1998, we expect TWR's earnings per share to grow about 45 percent from
a combination of substantially higher revenues and modest margin improvement,"
said Mach.
"In the absence of additional acquisitions, we estimate TWR will grow its
1999 earnings per share by approximately 15 percent. However, we believe
additional acquisitions are likely and provide upside potential to our fiscal
year 1998 EPS estimate of $1.66 and twelve-month price target of $31," said
Mach.
Clients interested in receiving more information should contact their
salesperson at 415-781-9700.
BancBoston Robertson Stephens is a leading international investment
banking firm focused on emerging growth companies. The firm's 55 senior
research analysts cover over 575 companies. Additional information is
available upon request.
The information contained herein is not a complete analysis of every
material fact respecting any company, industry or security. Although opinions
and estimates expressed herein reflect the current judgment of BancBoston
Robertson Stephens, the information upon which such opinions and estimates are
based is not necessarily updated on a regular basis; when it is, the date of
the change in estimate will be noted. In addition, opinions and estimates are
subject to change without notice. This Report contains forward-looking
statements, which involve risks and uncertainties. Actual results may differ
significantly from the results described in the forward-looking statements.
Factors that might cause such a difference include, but are not limited to,
those discussed in "Investment Risks." BancBoston Robertson Stephens from
time to time performs corporate finance or other services for some companies
described herein and may occasionally possess material, nonpublic information
regarding such companies. This information is not used in the preparation of
the opinions and estimates herein. While the information contained in this
Report and the opinions contained herein are based on sources believed to be
reliable, BancBoston Robertson Stephens has not independently verified the
facts, assumptions and estimates contained in this Report. Accordingly, no
representation or warranty, express or implied, is made as to, and no reliance
should be placed on, the fairness, accuracy, completeness or correctness of
the information and opinions contained in this Report. BancBoston Robertson
Stephens, its managing directors, its affiliates, and/or its employees may
have an interest in the securities of the issue(s) described and may make
purchases or sales while this report is in circulation. BancBoston Robertson
Stephens International Ltd. is regulated by the Securities and Futures
Authority in the United Kingdom. This publication is not meant for private
customers. The securities discussed herein are not FDIC insured, are not
deposits or other obligations or guarantees of BankBoston N.A., and are
subject to investment risk, including possible loss of any principal amount
invested.