BET Holdings"We are initiating coverage of BET Holdings...

STOCK WATCH

March 18, 1992|By Opinions on stocks offered by investment experts. Compiled by Steve Halpern for Knight Ridder.

BET Holdings

"We are initiating coverage of BET Holdings (NYSE, BTV, $10.875) with a strong buy recommendation," says Mary Kukowski, First Boston.

"The firm's flagship business, Black Entertainment Television, is a basic cable programming network oriented toward the black audience. In our view, this company is one of the most attractive growth stories we have seen in the media sector in some time. On average, over the next three to five years, revenues should grow in excess of 20 percent annually, operating cash flow should rise at a 30 percent rate, and earnings should rise at a hefty 40 percent rate. . . . Our 12-month target is the high-20s."

Lancit Media

" 'Sesame Street,' the most successful children's series ever, generated more than $90 million in revenues. . . over the past year. One player looking to tap into this gold mine is Lancit (OTC, LNCT) "says Jonathan Steinberg, editor of Individual Investor.

"When the Public Broadcasting agency announced it was searching for a company to create the first new daily preschool series on public television since 'Sesame Street' debuted 23 years ago, about 30 companies sent proposals. The series was awarded to Lancit Media. Lancit will produce the first 65 one-half-hour episodes of the show, tentatively titled, 'The Puzzle Factory.' "

Time Warner

Keith Benjamin, Ladenburg, Thalmann & Co., flags Time Warner (NYSE, TWX, $105.125), the world's largest media and entertainment firm.

"TWX's growth over the next decade will come from new cable system services, new technologies and growing international markets. While the firm continues to post losses, we look for a return to more normal results in 1992 as cable TV growth continues and as its publishing, movie, and music divisions benefit from an economic recovery. We're particularly excited about the long-term prospects in the cable business. . . . the stock could be worth $200 plus per share in the next two or three years."

Turner Broadcasting

"Turner Broadcasting (AMEX, TBSB) owns a number of TV stations including CNN, TBS and TNT. The firm also owns the Atlanta Braves baseball team and the Atlanta Hawks basketball team," notes Tomorrow's Stocks.

"Ted Turner, president and chairman, was recently named 'Maof the Year' for 1991 due to his forward-thinking approach to news broadcasting. With cable in general gaining viewers, the Braves winning the National League Championships, and the dTC Olympics heading to Atlanta in 1996, we look for Turner's P/E multiple to expand. Our short-term target is $30. . . . intermediate-term $42.

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