Analyst Says UGC Still Rates an A-OK8/18/2002 8:00 PM Eastern
Janco Partners analyst Matt Harrigan restated his "strong buy" rating on UnitedGlobalCom after the Denver-based provider of telecom and cable services in Europe, Asia and South America exceeded his cash-flow expectations for the second quarter. UGC reported cash flow of $70.4 million (exceeding Harrigan's estimate of $55.5 mil-lion). Harrigan wrote that his full-year cash flow estimate of $256.8 million now is "in the bag and could be conservative." Harrigan was especially pleased with UGC's Chilean unit — VTR — which reported strong subscriber growth and is seemingly unaffected by financial crises in neighbors Argentina and Uruguay.