BancBoston Robertson Stephens Reiterates Buy on Tower Automotive, Inc.
9 March 1999
BancBoston Robertson Stephens Reiterates Buy on Tower Automotive, Inc.
SAN FRANCISCO, March 9 -- 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 senior industrial
growth analyst Michael R. Mach today reiterated his Buy rating on Tower
Automotive, Inc. . Tower Automotive, headquartered in Grand
Rapids, Mich., is the leader in supplying car and light truck manufacturers
with components that provide vehicles with structural integrity. The company
is the world's largest supplier of chassis structures and a leading global
designer and manufacturer of high-quality engineered metal stampings,
assemblies and modules.
"We are reiterating our Buy rating on Tower with a 12-month price target
of $31, which now offers potential upside of more than 70 percent. We believe
the company is on track to meet and possibly exceed our first quarter fiscal
1999 earnings per share estimates," said Mach. "Since initiating coverage of
Tower in January 1999, its shares have declined more than 25 percent. In our
opinion, the stock's recent price weakness creates an enormous buying
opportunity, since industry and company fundamentals remain strong."
Clients interested in receiving more information should contact their
salesperson at 415-781-9700.
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