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Technology Stocks : UBID - an IPO spinoff of Creative Computers
UBID 3.0000.0%Jan 21 4:00 PM EST
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To: Kip518 who wrote (518)9/27/1999 5:16:00 PM
From: Mr. Big  Read Replies (1) of 581
 
RESEARCH ALERT - uBid raised to near-term buy
NEW YORK, Sept 27 (Reuters) - Merrill Lynch analyst Henry Blodget said Monday he raised his rating on online auction house uBid Inc. (NasdaqNM:UBID - news) to near-term buy from accumulate.

-- Shares of uBid were at 27-1/4, up 4-1/4 in early morning trading on the Nasdaq stock market.

-- Maintained long-term rating at buy.

-- Twelve to 18-month price target at $50.

-- Blodget said, '''Undervalued' is not a word that Internet analysts get to use very often. It is the only one, however, that we believe accurately describes the current status of uBid's stock.''

-- Said uBid is leader in business-to-consumer auctions and is now entering into the business-to-business market as well.

-- Said market research firm Forrester Research estimates online auctions will become a $65 billion market by 2002, with $12 billion in business-to-consumer and $53 billion in business-to-business.

-- Said uBid has three of the key criteria for success in e-commerce: 1) focus on both sides of its business: product sourcing and the end-user experience; 2) scaleable fulfillment and distribution facilities; 3) a talented management team.

-- Said uBid has continually exceeded Merrill's expectations since its initial public offereing, and expects it will continue to do so in the future.

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