WOW What a nice day
Wit Capital Analyst Jordan Rohan Increases Estimates for About.com: $65 Price Target
PR Newswire - August 23, 1999 11:40
NEW YORK, Aug. 23 /PRNewswire/ -- This release has been issued by Wit Capital Corporation, a registered broker-dealer and member of National Association of Securities Dealers, CRD number 41499, and SIPC.
Wit Capital Research Analyst Jordan Rohan today increased estimates for About.com (Nasdaq: BOUT).
"We have increased our 1999-2001 revenue estimates to reflect the recent surge in visitation, as well as the anticipated increase in traffic from the company's recent arrangements with Netscape and AltaVista," Rohan states. "About.com is developing reach commensurate with that of larger portals, and has built a platform better suited to monetize the About.com Network's traffic. However, its shares, which currently trade at less than 2x our 2001 revenue estimates, do not yet command a comparable enterprise valuation."
The analyst set a 12-18 month price target of $65 per share and a buy rating.
Wit Capital (Nasdaq: WITC), 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 IPO's and other securities offerings.
This report and others are available at witcapital.com.
SOURCE Wit Capital
/CONTACT: John McInerney, jmcinerney@dewerogerson.com, or Dahlia
Goldenberg, dgoldenberg@dewerogerson.com, both of Citigate Dewe Rogerson,
212-688-6840, for Wit Capital; or Richard Lee of Wit Capital, 415-278-0670,
rlee@witcapital.com/
/Web site: witcapital.com
(WITC BOUT)
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