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Technology Stocks : Buying IPOs on the open market

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To: Frederick Langford who wrote (4674)	11/18/1999 12:00:00 PM
From: Frederick Langford	Read Replies (1) of 5529

Why Buy RETK for more than $25? RESEARCH ALERT-Retek started at buy in today's IPO NEW YORK, Nov 18 (Reuters) - Jefferies & Co. said it started coverage of Retek Inc. (NasdaqNM:RETK - news) with a buy rating after its spun off from its parent company HNC Software Inc. (NasdaqNM:HNCS - news) on Thursday. -- said Retek may be worth 20-30 times revenues at Thursday's initial public offering. -- said 12-month target price is $25 -- said Retek is a maker of software used by retailers to communicate online with suppliers and distributors and is growing at 50 percent per year. -- said the growth rates for HNC Software's three remaining vertical markets are insurance, financial services and telecom and e-HNC. -- said HNCS is worth between $25 and $33 base on its current revenue multiple or between $50 and $74 per share once Retek trades as an independent company. biz.yahoo.com BRea

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