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Technology Stocks : RRRR: Rare Medium Group (soon to be) formerly ICC
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To: ztect who wrote ()3/27/2000 12:59:00 PM
From: Mary Baker   of 1150
 
RESEARCH ALERT - Rare Medium started at Strong Buy


NEW YORK, March 27 (Reuters) - Two brokerage firms said on Monday that that they had started research coverage of Internet venture capital group Rare Medium Group Inc. <RRRR.O>.

Credit Suisse First Boston said it started Rare Medium with a strong buy rating and a 12-month price target of $80.

Investing in Rare Medium is equivalent to investing in the gateway of technology to the new economy, wrote Credit Suisse analysts Mark Wolfenberger and Barry Chubrik in a research report to clients. They also said their research indicates that a significant strategic alliance is pending with a major software/hardware vendor.

Credit Suisse said it expects the company to handily beat its first quarter revenue estimate of $19 million with better profitability than its earnings per share estimate of a 7 cent loss. The company is schedule to report quarterly earnings on April 27.

Also on Monday Deutsche Banc Alex. Brown started research coverage of Rare Medium with a buy rating and a 12-month price target of $83.

Further details were not immediately available from Deutsche Banc Alex. Brown.

Stock closed Friday on Nasdaq at $50 per share.

08:48 03-27-00
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