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Technology Stocks : Concentric Network Corporation (CNCX)
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To: Hawk River Trading who wrote (343)11/30/1999 1:04:00 PM
From: Scrapps  Read Replies (1) of 377
 
Robertson Stephens Reiterates Buy Rating on CNCX
SAN FRANCISCO--(BUSINESS WIRE)--Nov. 30, 1999--Robertson Stephens Senior eCommerce Analyst Richard A. Juarez, today reiterated his Buy rating on Concentric Network Corporation (NASDAQ:CNCX - news). The company is one of the leading integrated providers of Internet access and hosting solutions.

''We believe Concentric is well positioned to capture additional market share in the rapidly growing outsourced and turnkey VPN, hosting and applications infrastructure market segments. We estimate fiscal 2000 demand will exceed $30 billion,'' said Juarez. ''We are reiterating our Buy recommendation on Concentric and our share price target of $45, based on approximately 8.9 times our calendar 2000 revenue estimate.''

''We expect that the very significant growth in DSL deployments will require many corporations to reconsider how they deploy and manage their Virtual Private Networks. The lack of qualified resources will likely force many to outsource this task,'' said Juarez.

''Connectivity to remote and highly bandwidth-intensive applications, e.g., PeopleSoft, should require reliable and effectively managed networks. Our research indicates that service providers like Concentric will be required to support these complex requirements,'' said Juarez.
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