CUC Int'l- Cybermarketeer? Message Board

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Technology Stocks : CUC Int'l- Cybermarketeer?

CD 5.735

+28.3%

3:59 PM EST

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To: Ann Williams who wrote (107)	5/28/1997 8:28:00 PM
From: Todd D. Wiener	of 243

R. Stephens Cuts CUC Intl To Long-Term Attractive From Buy Dow Jones Newswires NEW YORK -- Robertson Stephens & Co. downgraded CUC International Inc. (CU) to long-term attractive from buy, according to a research summary. The merger of CUC and HFS Inc. (HFS) announced Tuesday is not seen as ''compelling enough to create new buyers for either stock'' the summary said. In a research summary, Robertson Stephens analyst Keith Benjamin said the merger with HFS seems to ''dilute the ability'' of CUC's Internet marketing services to accelerate overall corporate growth, ''which was one of the key reasons for our recommendation of CUC.'' The company's upcoming NetMarket Internet shopping site could provide CUC with significant leverage in terms of converting its telephone members into interactive uses, the summary said. The analyst admits to a minimal understanding of ''the HFS franchise and other business, which we view as more dependent on acquisitions for growth and more sensitive to interest rates and economic cycles'' than CUC. He added that HFS doesn't ''seem to have the same recurring revenue and relatively powerful growth characteristics'' of CUC.

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