Spelman Research Initiates Coverage of Farmstead Telephone Group
07 Juli 2005 - 12:00AM
PR Newswire (US)
Spelman Research Initiates Coverage of Farmstead Telephone Group
EAST HARTFORD, Conn., July 6 /PRNewswire-FirstCall/ -- Farmstead
Telephone Group, Inc. (AMEX:FTG) today announced that New
York-based Spelman Research, an independent investment research
firm, began its initial coverage of the Company. Spelman issued a
speculative buy rating with a target price of $8.25. Their report,
which is available for viewing at http://www.spelmanresearch.com/
and on Farmstead's website at http://www.farmstead.com/, cites "We
believe that the undergoing transformation of the Company from a
legacy telecom equipment distributor and reseller into a leading
hosted VoIP services provider makes the Company a prime candidate
for any investor looking for a superior gain in the telecom
industry." Jean-Marc Stiegemeier, Farmstead's Chairman and CEO,
said, "We are pleased that such a respected independent research
firm has assessed the upside potential of our strategy and efforts
to position ourselves for future growth in our industry." About
Farmstead Farmstead Telephone Group, Inc. is an Avaya Inc. Gold
Business Partner, selling, installing and maintaining both new and
refurbished Avaya business communications products nationwide.
Through its newly-formed subsidiary "One IP Voice," Farmstead will
soon offer carrier-based hosted IP telephony services along with
network services, targeting small and medium sized businesses.
Further information about Farmstead Telephone may be found at
http://www.farmstead.com/. We are interested in your feedback and
comments. To respond to questions from our management team, click
here:
http://www.b2i.us/sendFeedBack.asp?B=1042&RL=7853&S=12204
To add yourself to our email distribution list, click here:
http://www.b2i.us/frame.asp?BzID=1042&to=ea&Nav=1&S=0&L=1
This release contains forward-looking statements that involve risks
and uncertainties. In addition to historical information, investors
should consider carefully the risks associated with an investment
in the Company's securities as previously outlined by the Company
in its prior filings with the Securities and Exchange Commission.
CONTACT: Mel Lipes Farmstead Telephone Group, Inc. Voice:
860-610-6005 Fax: 860-282-5737 DATASOURCE: Farmstead Telephone
Group, Inc. CONTACT: Mel Lipes of Farmstead Telephone Group, Inc.,
+1-860-610-6005 Web site: http://www.spelmanresearch.com/
http://www.farmstead.com/
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