Thomas Weisel Starts DoubleClick, Lowers Citadel (DCLK,CITC)
(NewsTraders.com)-- Thomas Weisel Partners analyst H. Perry Boyle initiated coverage of Internet advertising dynamo DoubleClick Inc. (DCLK) with a "buy" rating and a 12-month price target of $100.
Boyle commented that, "the recent pullback in the stock price has created an attractive entry point for long-term investors."
Separately, analyst Gordon Hodge lowered his rating on radio station operator Citadel Communications (CITC) to "buy" from "strong buy" and reduced after-tax cash flow 1999 and 2000 estimates to $0.62 and $1.12 from $0.67 and $0.15, respectively.
Separately, Hodge reiterated his "buy" rating on the Internet's provider of local guides and ticketing TicketMaster OnLine-CitySearch (TMCS), saying that the ticketing business, both offline and online, are experiencing strong growth trends.
In another move, analyst Paul Knight raised fiscal year 1999, 2000, and 2001 EPS estimates on scientific instruments and vacuum technologies company Varian Inc. (VARI) to $0.34, $0.90 and $1.20 from $0.30, $0.85 and $1.15, respectively, and reiterated his "strong buy" rating.
Knight said that for the long-term, he believes that Varian, through targeting drug discovery, genomics, and other growth markets, has products which can drive 10%-15% internal growth as part of its overall 25% EPS growth rate.
Shares of New York-based DoubleClick were recently trading at $81.50, down $0.38 from its previous close Las Vegas, Nev.'s Citadel had spiked $4.13 to $33.00 Pasadena, Calif.'s Ticketmaster shares were down $1.13 at $33.25 and Palo Alto, Calif.-based Varian was trading at $15.38, up $0.69 from yesterday's close.
Copyright 1999 NewsTraders Inc. All Rights Reserved 12:33 Friday, July 30, 1999 |
