Analyst Gives Cox a Lift2/24/2002 7:00 PM Eastern
Cox Communications Inc., whose stock has dipped from about $37 on Feb. 1 down to $32.70 at last Wednesday's close, got a nice lift last Thursday from Morgan Stanley cable analyst Richard Bilotti. Basically citing that price decline, Bilotti elevated Cox to "strong buy" from "outperform." Morgan Stanley set a $45 price on the stock, based on 14.3 times estimated 2003 cash flow. At about 11 a.m. on Feb. 21, Cox was selling for $35.40, up $2.70 or 8 percent.