Credit Suisse First Boston Initiates Coverage of Terra Networks With a Buy Rating
PALO ALTO, April 11 /PRNewswire/ -- The following is being issued by
Credit Suisse First Boston, a member of the National Academy of Securities
Dealers, CRD number 816:
Credit Suisse First Boston Technology Group analysts Will Landers and
Shane Leonard today initiated coverage on Terra Networks (NASDAQ:TRRA) with a
Buy rating and a price target of $100 per ADR (or Euro 100 per share).
(Photo: newscom.com )
Terra Networks, a subsidiary of Telefonica de Espana, represents a network
of Internet service providers (ISPs) and country-specific portals serving
Spain and most major Latin American Internet markets.
"TRRA aims to provide Internet users throughout the Spanish and Portuguese
speaking world with 'one-stop shopping' through its offering of Internet
access, portal services, on-line advertising and e-commerce opportunities,"
says Landers.
Landers and Leonard believe that TRRA is uniquely positioned to grow in
Latin America, Spain and the U.S. Hispanic market, which represent some of the
fastest growing Internet markets in the world currently.
They also note the unique relationship with TRRA's parent company,
Telefonica de Espana, which offers significant opportunities for synergies not
available to any of its competitors.
TRRA currently offers country-specific portals in Spain, Brazil, Mexico,
Argentina, Peru, Chile, Venezuela, the U.S. and Central America. The company
expects to launch a portal focusing on the U.S. Hispanic market in the near
future, as well as to expand into other countries in Latin America.
Credit Suisse First Boston is a leading global investment banking firm,
providing comprehensive financial advisory, capital raising, sales and
trading, and financial products for users and suppliers of capital around the
world. It operates in over 60 offices across more than 30 countries and has
over 15,000 employees. As of December 31, 1999, CSFB has $9.8 billion in
revenues, $7.8 billion in equity, and $275 billion in assets. The Firm is a
wholly owned subsidiary of the Zurich-based Credit Suisse Group. For more
information on Credit Suisse First Boston, please visit the Company's website
at csfb.com .
This press release is merely a synopsis of a Credit Suisse First Boston
Corporation research report and neither is, nor is intended to be a
comprehensive summary of the report or recommendation. The report referred to
herein should be read in its entirely prior to making a decision to invest in
any of the companies mentioned therein. If you would like to obtain a copy of
this report, please contact your CSFB sales representative.
SOURCE Credit Suisse First Boston Corporation
-0- 04/11/2000
/CONTACT: Cheryl Popp, 650-614-1630, or Lisa James, 650-614-1632, or
Sierra Scott, 650-614-1633, all of Credit Suisse First Boston Corporation/
/Photo: NewsCom: newscom.com
AP Archive: photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 201-369-3467/
/Web site: csfb.com |
