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Technology Stocks : CMGI What is the latest news on this stock?
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To: Don Jeanblanc who wrote ()1/20/2000 9:25:00 AM
From: stock_bull69  Read Replies (1) of 19700
 
Courtesy of Mark Peterson aka NBN on RB:

Piper Jaffray's Report...

Here are the guts of it:

1. We consider CMGI to be the only "full-service Internet operating company, integrating and leveraging four high-growth areas of the Internet - access, content, marketing, and infrastructure - with 10 operating companies and ownership interests in 40 others through @Ventures.

2. We believe CMGI has a particularly strong position to be one of the leading players in the internet advertising and Internet content and entertainment (through Alta Vista and iCast). We also believe that CMGI's already extensive international operation is likely to mushroom in 2000, creating the foundations for a global Internet enterprise.

3. Through its @Ventures funds, CMGI has created more than $11 billion in market value with more than 8 IPOs and close to 40 investments. The @Ventures funds and CMGI's management have been a value creation machine for the Company, generating more than $7 billion in public company stocks for CMGI shareholders.

4. Catalysts to Watch: 1) The full integration of the seven advertising companies led by Engage; 2) the expansion of international operations (PCCW in China and three new international @Ventures funds); 3) the expansion of the newly created Solutions group; 4) Alta Vista to spin out in the first half of 2000 and as many as 10 other IPOs; 5) more acquisitions in e-commerce and community areas; and 6) the expansion into new areas such as handheld devices, broadband, and wireless access.

5. Investment Conclusion. Because of the unique business model, the traditional valuation metrics are rendered useless for CMGI. We believe the Company has the potential to be an $8 billion - $10 billion operating company within three to five years. We base this on an aggregate revenue potential from the markets the Company is addressing and the continued creation of public currency value through its investments. Given this revenue potential, we believe that the stock is undervalued, despite big run-ups recently, and will continue to appreciate as the new catalysts unfold.

NBN
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