HMK-Is this a buying opportunity? Message Board

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Non-Tech : HMK-Is this a buying opportunity?

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To: Pageup who wrote (65)	1/20/2000 10:07:00 AM
From: Shinie	of 66

RESEARCH ALERT - HA-LO raised to long-term buy CHICAGO, Jan 19 (Reuters) - Barrington Research Associates analyst Alexander Paris said Wednesday he upgraded HA-LO Industries Inc. (NYSE:HMK - news) to long-term buy from hold a day after the brand marketing company said it agreed to acquire Starbelly.com, an online promotional product service. HA-LO had announced Tuesday that it will acquire Starbelly.com for $240 million in stock and cash. -- In a research note Paris said the acquisition represents a major step in HA-LO's e-transformation strategy which calls for an evolution of the company to an Internet business to business brand marketing leader. -- Paris said the addition of Starbelly.com would provide the combined company with access to the broader $75 million branded and custom-decorated merchandise market. -- Under the new strategy, the company expects to double revenues within three years to about $1.2 billion in 2002, he said. -- ''We are encouraged by management's bold action (rather than inaction) in response to the revenue slow down in its important promotional products business and their commitment to value creation through an e-transformation of the company,'' Paris said. -- Shares of HA-LO closed off 5/8 at 10-1/2 on the New York Stock Exchange. More Quotes and News: Ha-Lo Industries, Inc (NYSE:HMK - news) Related News Categories: US Market News

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