Wit Capital Announces Investment Opinion on Covad Communications
Business Wire - August 02, 1999 12:19
New York--(BUSINESS WIRE)--August 2,1999--Wit Capital Research Analysts Elliot S. Prince, CFA, and Jonathan Cohen, today initiated coverage on Covad Communications (NASDAQ: COVD) with a BUY rating. Santa Clara, CA-based Covad Communications provides digital subscriber line (DSL) services over standard copper telephone lines at speeds of up to 1.5 MBPS, to ISPs and business enterprises.
"We expect Covad to emerge as the premier, single source partner for both business and consumer-oriented broadband ISPs," commented Prince. "In our opinion, Covad represents a compelling opportunity for investors to participate in the booming growth of broadband Internet connectivity."
Wit Capital was founded in 1996 as the first online investment banking firm. With offices in New York and San Francisco, Wit Capital is an issuer-driven, Internet-centric company that offers a rapidly expanding array of investment banking services, including underwriting for public offerings, private equity services, strategic advisory, and institutional quality research. Wit Capital also offers individual investors online brokerage services which include access to IPOs and other securities offerings.
This report is available at: www.witcapital.com/research/reports/covd_990802.pdf
This release has been issued by Wit Capital Corporation, a registered broker-dealer and member of NASD and SIPC.
CONTACT: Citigate Dewe Rogerson
Dahlia Goldenberg
212/419-8320
dgoldenberg@dewerogerson.com
or
Wit Capital
Elliot Prince
212/253-4400
eprince@witcapital.com
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