Downgraded Rating on United Road Services, Inc.
26 March 1999
BancBoston Robertson Stephens Downgrades Rating on United Road Services, Inc.
SAN FRANCISCO, March 25 -- The following is being issued by
BancBoston Robertson Stephens, a member of the National Association of
Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens senior information and business services
analyst Andrew W. Jeffrey today downgraded United Road Services, Inc.
, to a Buy rating, from Strong Buy. United Road Services,
headquartered in Albany, N.Y., is one of the largest providers of motor
vehicle towing and transport services in North America.
"We are lowering our rating on United Road Services to a Buy, from
Strong Buy, due to the company's significantly reduced visibility related to
operating results and acquisition outlook," said Jeffrey. "As a result, we
are lowering our 1999 earnings per share estimate to $0.75, from $1.05, driven
by a lower 1999 acquisition assumption of $200 million, down from our previous
$300 million projection."
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