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Technology Stocks : Ascend Communications (ASND)
ASND 211.05-0.7%3:59 PM EST
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To: ALAN who wrote (41990)4/2/1998 6:09:00 PM
From: Glenn D. Rudolph   of 61433
 
RESEARCH ALERT - Everen raises EarthLink

Reuters Story - April 02, 1998 11:34
%TEL %ENT %DPR %BUS %US %HOT %RCH %RESF ELNK FON V%REUTER P%RTR

CHICAGO, April 2 (Reuters) - Everen Securities Inc. said
Thursday it raised its intermediate-term rating on Internet
service provider EarthLink Network Inc. to outperform from
market perform.
"We believe Sprint will ultimately own 100 percent
of EarthLink, however, we believe Sprint will have to pay a
rich premium to acquire the remaining 70 percent of EarthLink
for two reasons," Everen said in a research note.
"One, we believe EarthLink is growing its subscriber base
internally faster than any other ISP (Internet service
provider)," Everen said. "Two, because of numerous acquisitions
of large ISPs in the last 12 months, there are very few large
independent ISPs left to be acquired."
Shares of EarthLink were up 4-5/8 at 63-3/4.
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