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Technology Stocks : Concentric Network Corporation (CNCX)
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To: Vendit™ who wrote (257)8/18/1999 11:45:00 AM
From: Platter  Read Replies (1) of 377
 
From Briefing.com...Blodget on the Internets : Merrill Lynch Internet analyst Henry Blodget is making news today with his "holiday basket" of Internet stocks. Blodgett made a name for himself at CIBC Oppenheimer by setting a $400 price target for Amazon.com (AMZN) last December 16 when the stock was trading at $242 3/4 (that target translates to a split adjusted 133 1/3). Now at Merrill, Blodget is once again optimistic about the e-holidays. He argues that Q4 is the strongest seasonal quarter for business-to-consumer ecommerce (tough to counter that point), citing increased traffic, advertising, and commerce. Blodget believes that online sales will increase by two to three times over 1998, and that cheaper and sometimes free PCs will greatly boost the number of people online. In conjunction with the introduction of the holiday basket, Blodget upgraded both YHOO and AMZN to near-term buy from near-term accumulate. The rest of the stocks are still rated near-term accumulate; and all of these stocks are still rated as long-term buys. - GJ

Company Symbol Current Change Objective
America Online AOL 100 1/4 +2 1/4 150
Yahoo! YHOO 146 7/8 +8 225
Amazon.com AMZN 115 5/16 +6 1/16 150
barnesandnoble.com BNBN 18 5/16 +1 9/16 30
Etoys ETYS 46 5/16 +6 1/16 50
Excite@Home XCIT 41 3/8 +1 3/4 50
Inktomi INKT 119 +3 150
Lycos LCOS 45 15/16 +3 5/8 75


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