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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: WhatsUpWithThat who wrote (27131)11/12/1999 1:11:00 PM
From: Mr. Big  Read Replies (3) of 108040
 
BancBoston Robertson Stephens Initiates Coverage of CBLT with $50 target
SAN FRANCISCO--(BUSINESS WIRE)----BancBoston Robertson Stephens managing director and senior Internet analyst Keith E. Benjamin and senior automotive services analyst Jordan Hymowitz today initiated coverage of the Cobalt Group, Inc. (Nasdaq:CBLT - news), with a Buy rating. Cobalt is a provider of fully integrated Internet automobile retailing solutions.

''We are initiating coverage of Cobalt with a Buy rating and a price target of $50, as we believe the company has already branded itself as the dominant Internet solution for car dealers and manufacturers,'' said Benjamin and Hymowitz. ''Its clients include approximately 3,000 of the nation's 22,400 franchised dealers, and the company's Web-hosting business has earned exclusive endorsements from approximately 13 auto manufacturers in North America.''
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