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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 90.28+8.5%2:10 PM EST
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To: Susan G who wrote (12067)9/16/1999 5:28:00 PM
From: Adam S  Read Replies (1) of 28311
 
RESEARCH ALERT-Pru starts Go2Net with accumulate

SEATTLE, Sept 16 (Reuters) - Prudential Securities said on Thursday that it began coverage of Internet portal Go2Net Inc. (Nasdaq:GNET - news) with an accumulate rating and a price target of $90.

--Shares of Go2Net were down 1-1/2 at 68-1/4 in afternoon Nasdaq trading.

--Prudential analysts Michael Legg and Santosh Rao in a research note predicted Go2Net, one of few profitable Internet-related companies, would earn 27 cents a share in 2000 and 39 cents a share in 2001.

--The analysts cited Microsoft co-founder Paul Allen's 30-percent stake in Go2Net through his Vulcan Ventures investment vehicle as a positive influence.

--They see Seattle-based Go2Net sharply boosting its Web site visitors from July's 11.2 million by partnering with Vulcan's Charter Communications, the fourth-largest U.S. cable television operator working on a major high-speed Internet platform.

--``We believe Go2Net could emerge as the default portal for Charter's Internet effort, effectively capturing significantly increased levels of eyeballs,' the analysts wrote in their report.

--The analysts also cited Go2Net's cash stockpile of nearly $300 million as a powerful tool to continue its strategy of growth through acquisitions.
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