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Technology Stocks : Electronics Boutique (ELBO)
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To: Mad2 who wrote (610)11/28/1999 2:21:00 AM
From: ratherbelong  Read Replies (1) of 779
 
Mad2,
I guess you know by now that Harry Katica of Prudential has raised his target on ELBO to $30.00...calling the secondary offering a success (raising $51M) and he looks for continued strong growth and earning through the fourth quarter and into next year. He thinks that Sony will be a driver for sales in the second half of next year and he seemed pleased with ELBO's decision to grow their internet presence and hinted that a spin-off of ebworld.com might be in the cards, as early as next year, if sales from their website continue to explode. All in all, a very positive report.
With the addition of Bank of America Sec, we now have 3 strong buys and 1 buy rating. With Solomon Smith Barney raising their target to $31.00 and now Prudential raising to $30.00 and with reports (and probably increased targets) due from the other two analyst, it would seem an understatement to say that ELBO is undervalued at these levels. I'm looking for some upward movement next week, now that the Christmas season is officially here. All the reports I read point to very strong initial sales for the vast number of retailers both in the stores and on line. Next week should be interesting. Hoping to see ELBO pick up some momentum here, moving into the month of December.
Best of luck with all your investments,
RBL
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