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Technology Stocks : PSIX up 26.5%, Takeover(?)
PSIX 66.79+5.7%Jan 9 9:30 AM EST
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To: lupaka who wrote (4775)1/11/2000 10:53:00 PM
From: lupaka   of 5650
 
Targets Increased By Kaufman Bros., Jefferies (PSIX)

January 11, 2000 09:38

(NewsTraders.com)--Internet access provider PSINet Inc. (PSIX) received a price target boost to $167
from $138 from Kaufman Bros. analyst Vik Grover, based on the Jan. 10 announcement that the
company would exceed estimates.

Grover said he believes that PSINet, which he has tagged at "strong buy," is "in the driver's seat" in its
plan to become a dominant force in the emerging data center, co-location, applications hosting and
e-commerce spaces.

The analyst also said he believes the company is at a "major inflection point" in its evolution as
businesses around the world begin to adopt the Internet as a mission-critical tool.

Grover also called PSINet the "single best play on the accelerating growth of the Internet and
e-commerce."

Separately, Jefferies & Co. analyst Frederick Moran took his price target on PSINet to $104 from $85,
linking his move to the implications of the Concentric takeover and his belief that PSINet deserves a
premium valuation in that space.

According to Moran, PSINet boasts more substantial operations and potentially better exposure to the
lucrative Web hosting area.

Moran reiterated his "buy" rating on the stock.

Despite such votes of confidence, shares of the Herndon, Va.-based company fell $0.69 to $71.75 in
recent market activity.

newsalert.com r-re-redigest&StoryTitle=Company+Digest
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