From MarketWatch
marketwatch.multexinvestor.com
*bold mine
Change of Opinion
OMKT, EWBX, JWEB among Upgrades
by Dean Tomasula
June 29, 1999
The following article was featured in the June 24th edition of Multex.com, Inc.'s weekly newsletter, The Internet Analyst.
PaineWebber on June 21 upgraded the shares of Open Market Inc. (OMKT) to a BUY rating, from NEUTRAL. The brokerage also raised its 12-month price target to $25, from $14. The brokerage said it raised its rating because of Open Market's "continuing growth and visibility in e-commerce" and the improving demand for e-commerce products.
The company has grown its e-commerce products revenue to $8 million in 1Q99, from $3 million a year earlier. For 2Q99, the company is forecast to show a loss of $0.10 per share. This is expected to decline in 3Q99 to $0.03 per share and to a loss of $0.01 per share in 4Q99. For 1999, analysts forecast Open Market will post a loss of $0.22 per share. There were 14 new reports about the company added to the Multex.com database for institutional investors last week. In May, research on the company was accessed 50 times.
The shares of EarthWeb Inc. (EWBX) were raised by Volpe Brown Whelan to a STRONG BUY from a BUY on June 18, with a price target of $68. "We believe that IT professionals will increasingly turn to EarthWeb as a 'one-stop-shopping' source for more and more of their information and service needs," said the brokerage.
Volpe Brown Whelan forecasts a loss for 2Q99 of $1.15 per share and a loss for 3Q99 of $0.92 per share. For 1999, the brokerage expects the company to report a loss of $3.68 per share. That figure is expected to decline to a loss of $2.28 per share for 2000. The brokerage noted that EarthWeb looks very cheap at current levels and recommends purchase of the stock. There were 10 new reports about the company added to Multex.com's institutional database last week. In May, research on the company was downloaded once.
Goldman Sachs on June 16 added the shares of I2 Technologies Inc. (ITWO) to its RECOMMENDED LIST, an upgrade from its previous rating of MARKET OUTPERFORMER. "We believe that I2 is strategically positioned to capitalize on the emerging business-to-business e-commerce market," the brokerage said, "but investors will likely continue to be apprehensive at the end of each quarter, as large deals wait to be closed." For 1999, the brokerage forecasts EPS of $0.32 and EPS of $0.71 for 2000.
PaineWebber on June 21 initiated coverage of Juno Online Services Inc. (JWEB) with a BUY rating and a 12-month price target of $56 per share. "We believe Juno, like America Online (AOL), is a hybrid between the subscription-based ISP model typified by Earthlink Network Inc. (ELNK) and MindSpring Enterprises Inc. (MSPG), and the advertising-based model of Yahoo Inc. (YHOO), and is developing a richer model of subscription plus advertising that positions it well for long-term growth and sustained profitability."
For 2Q99, the brokerage forecasts a loss of $0.58 per share for Juno, and a loss of $0.49 per share for 3Q99. For 1999, it forecasts a loss of $1.85 per share and a loss of $1.76 per share for 2000. |
