Wit SoundView Analyst Jordan Rohan Increases Target for About.com From $91 to $120 per share
March 17, 2000 11:07
NEW YORK, March 17 /PRNewswire/ -- This release has been issued by Wit Capital Corporation, a registered broker-dealer and member of National Association of Securities Dealers, CRD number 41499, and SIPC.
Wit SoundView Internet Analyst Jordan Rohan today increased his 12-month price target for About.com (Nasdaq: BOUT) from $91 to $120 per share.
"About.com announced the creation of Luna Networks, an affiliate network of high-quality targeted online media properties linked to and integrated into the About.com Guide Site Network. The 100+ web publishers participating in the network will enable About.com to sell their advertising inventory, to link to their content, and to place About.com ads within their sites."
In addition, Rohan states, "The company also highlighted an ad placement system code-named FastLinks, which automates the process of enabling smaller advertisers to pay for placement in About.com's "Sponsored Links" section. The company is taking steps to extend its reach (Luna Network), as well as to facilitate the sale of advertising to thousands of new advertisers. Enhancements in the company's operating margins due to these developments should be evident within 12 months."
Rohan concluded, "We are increasing our target price for the shares of About.com from $91 to $120, representing 40% upside from current levels, and we reiterate our STRONG BUY rating on the shares of About.com."
This report is available at 192.168.1.35
Wit Capital (Nasdq: WITC), was founded in 1996 as the first online investment banking firm. With offices in New York and San Francisco, Wit Capital is an issuer-driven, Internet-centric company that offers a rapidly expanding array of investment banking services, including underwriting for public offerings, private equity services, strategic advisory, and institutional quality research. Wit Capital also offers individual investors online brokerage services which include access to IPO's and other securities offerings.
This release has been issued by Wit Capital Corporation a registered broker-dealer and member of NASD and SIPC.
SOURCE Wit Capital
/CONTACT: Jordan Rohan of Wit Capital, 212-253-4450 or
jrohan@witcapital.com; or Robin Weinberg of Citigate Dewe Rogerson,
212-688-6840, rweinberg@dewerogerson.com, for Wit Capital/
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