Robertson Stephens Reiterates Buy Rating on IBAS
SAN FRANCISCO--(BUSINESS WIRE)--March 28, 2000--Robertson Stephens Managing Director and Senior eCommerce Services Analyst Rick Juarez reiterated his Buy rating on iBasis, Inc. (NASDAQ: IBAS). iBasis is a leading provider of wholesale, high-quality VoIP telephony services to carriers and other communications providers.
"Our research indicates that iBasis' industry-leading, toll-quality services have enabled the company to sign 11 of the top 12 U.S.-based carriers as customers," said Juarez. "This list includes MCI, GTE and Sprint, and we expect an agreement with AT&T is likely within the next 60-90 days."
"The company's Unified Communications roll-out is going well," said Juarez. "We expect iBasis will capture a significant portion of that market, which we expect could reach $12 billion by 2006."
"We believe that the rise in the use of Voice over DSL will provide additional revenue lift for iBasis," said Juarez. "In addition, we believe that Collaborative Communication, which combines VoIP and Unified Communications to deliver low-cost, robust, and ubiquitous interactive capabilities, will drive substantial minutes of use volume growth as well as revenue per minute expansion. We expect to see stable revenue per minute pricing and increased revenue per minute for premium services."
"We are maintaining our estimates and reiterating our Buy rating on iBasis," said Juarez. "We believe the company represents one of the most attractive plays in the outsourced IP communications provider market."
Jim |
