BancBoston Robertson Stephens Reiterates Buy Rating on TWR

Business Wire, Sept 27, 1999

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 27, 1999--

BancBoston Robertson Stephens managing director and senior industrial growth analyst Michael R. Mach today reiterated his Buy rating on Tower Automotive, Inc. (NYSE:TWR).

Tower is a leader in supplying car and light truck manufacturers with components that provide vehicles with structural integrity. The company is the world's largest supplier of chassis structures and a leading global designer and manufacturer of high quality engineered metal stampings, assemblies and modules, including suspension and Class A external-metallic components.

"We are reiterating our Buy rating and 12-month price target of $36 on Tower Automotive," said Mach. "Tower continues to track to our expectations for third-quarter 1999 sales and earnings. We expect the company to report a third-quarter-sales advance of 15 percent and an earnings-per-share advance of 25 percent."

"Despite Tower's continued-positive-fundamental momentum in recent months, the company's shares have declined 35 percent," said Mach. "Given Tower's leading market positions, strong business momentum and current-low-stock valuation, we believe its shares now offer a compelling risk reward profile. We urge investors to use recent price weakness to add to or initiate positions in Tower shares."

Clients interested in receiving more information should contact their salesperson at (415) 781-9700.

BancBoston Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies. For the first half of 1999, the firm completed over 100 offerings, raising more than $15 billion in capital for clients and is the leading investment bank for Internet M&A transactions. The firm's 45 research analysts cover nearly 700 companies.

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