there was a nice upgrade today for aol.called a target of $18. said they have $2-1/2 bil. plus cash flow.
AOL Time Warner is a company that generates a huge amount of good old cash. So far in 2002, AOL Time Warner has generated $2.8 billion in free cash flow. Free cash flow is what’s left of cash flow after all nondiscretionary cash expenditures, such as taxes and capital spending, are subtracted. It’s the “extra” cash that the company has available for activities such as reducing debt or buying back shares. AOL Time Warner's cash flow for the full year is expected to reach $3 billion. (Cash flow has been front-end loaded so far in 2002 because of the timing of working capital needs in the film division.) And 2003 should see another $2.8 billion to $3 billion in free cash flow.