Robertson Stephens Reiterates Buy Rating on CNCX
SAN FRANCISCO--(BUSINESS WIRE)--Oct. 15, 1999--Robertson Stephens Senior eCommerce Analyst Richard A. Juarez today reiterated his Buy rating on Concentric Network Corporation (NASDAQ:CNCX - news). The company, headquartered in Cupertino, Calif., is a one of the leading integrated providers of Internet access and hosting solutions.
''We reiterate our Buy recommendation and share price target of $45 based on approximately 7x our 2000 revenue estimate,'' said Juarez. ''We believe recent weakness has created a buying opportunity for savvy investors.''
''The company is on track to report a solid quarter, with potential revenue upside of approximately $500,000,'' said Juarez. ''In our opinion, Concentric is uniquely positioned to provide valuable support and execution services to the emerging ASP market, namely high-quality outsourced VPN and hosting services. Without stable and highly reliable platforms ASP services are not viable.''
Concentric plans to report its third quarter 1999 results on October 18 after market close.
Clients interested in receiving more information should contact their salesperson at (415) 781-9700.
BancBoston Robertson Stephens Inc. (''Robertson Stephens'') is the leading full-service investment bank focused exclusively on growth companies. To date in 1999, the firm has completed over 130 offerings, raising more than $24 billion in capital for clients. The firm's 47 research analysts cover nearly 700 companies. Founded in 1978, Robertson Stephens is a section 20 subsidiary of Fleet Boston Corporation (NYSE: FLT - news) and a member of the NASD and all major exchanges. Together, Robertson Stephens, BancBoston Robertson Stephens International Ltd., and Robertson Stephens Evergreen Securities Ltd. employ over 1,000 employees worldwide with offices in Boston, San Francisco, New York, Menlo Park, Chicago, London, and Tel Aviv. For more information about the firm, please visit our Web site at www.rsco.com.
The foregoing synopses are qualified in their entirety by the more detailed information contained in the full research reports, including the discussion of certain risks associated with an investment in the above-mentioned securities contained in ''Investment Risks.''
The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens Inc., the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in ''Investment Risks.'' BancBoston Robertson Stephens Inc. from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens Inc. has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens Inc., its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of Fleet Bank or BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested.
biz.yahoo.com |
