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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium
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To: Kimberly Lee who wrote ()3/30/2000 12:36:00 PM
From: rocket_no9  Read Replies (1) of 108040
 
ECRU---> For the threads consideration. Canadian high tech staffing co. I think this sector will be heating up soon,ECRU seems undervalued compared to its competition.Seems to be some accumulation going on today,stocks holding up well.

Whale Securities Co., L.P. initiates coverage of E-Cruiter.com (NASDAQ: ECRU - 7
1/16) with a buy rating and twelve-month target price of $18. Near-term target
is $12.

Our forecast 210% compound annual growth rate (CAGR) in sales over the next 2
calendar (No.) years suggests a 12-month target of $18 in our opinion. With its
business model aimed at the corporate recruiter, the company appears to be newly
public Canadian version of the very successful HotJobs.com. By pricing
E-Cruiter.com at slightly over a 25% discount to HotJobs.com because of its
smaller size and Canadian orientation, we believe it can sell at a 17x
multiple-to-sales ratio on forecast calendar 2001 sales forecast of $8 million
for an $18 target in 12 months.

For more information about E-Cruiter.com services visit www.ecruiter.com or call
toll free 1-877-ECRUITER (327-8483). For investor information, contact Jeff
Potts, Chief Financial Officer, at 613-236-2263, ext. 235 or e-mail
investorrelations@ecruiter.com.

Whale Securities Co., L.P. completed an initial public offering on December 7,
1999 for E-Cruiter.com and makes a market in the shares of E-Cruiter.com. For a
full text of the report, please call Sharon Bulag, Whale Securities, at
212-484-3650.
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