Enron Corp. - University of California | Office of The President

227. On 4/12/00, CitiGroup issued a report on Enron. It rated Enron a "Buy" and forecast
00 and 01 EPS of $1.43 and $1.70 and a 20% five-year EPS growth rate for Enron. It also stated:
THE BANDWIDTH OPPORTUNITY
ENE has already done about a dozen trades since announcing its first trade with
Global Crossing in December 1999; we expect the further commercialization of this
market should provide a visible catalyst to ENE's share price in 2000.
228. On 4/13/00, The Houston Chronicle reported on Enron's recent favorable results:
"The only surprise was on the upside," said Donato Eassey, energy analyst
with Merrill Lynch Global Securities in Houston. "Enron is positioned to be the
GE of the new economy."
* * *
"We believe these new levels are sustainable and that they more than likely
will accelerate," Jeff Skilling, Enron president, said in a conference call with
reporters.
229. On 04/12/00, CS First Boston issued a report on Enron. It forecast 00 EPS of $1.35
for Enron. It also stated:
Strong Q1 Underscores Increasing Momentum Across All Businesses
(EBS) made great progress in both the content delivery and intermediation
businesses ....
... The Retail (EDSing) business far exceeded our expectations, as major long
term, full outsourcing contracts continued to be signed in the US and increasingly
in Europe, and ultimately Latin America.
We take particular note of EBS ability to sign 20 content delivery contracts through
the quarter .... These contracts are quickly validating EBS's Enron Intelligent
Network. Bandwidth intermediation (trading) has become a reality. EBS realized
85% of its full year transaction targets in the first quarter alone ....
230. On 4/12/00, CIBC issued a report on Enron. It rated Enron a "Buy," forecast 00 and
01 EPS of $1.38 and $1.58 for Enron, and stated:
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