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Technology Stocks : FreeMarkets Inc-(FMKT)
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To: Anthony@Pacific who wrote (314)4/20/2000 6:52:00 AM
From: Fast Eddie  Read Replies (1) of 414
 
Is anyone else confused? Piper Jaffray raises FMKT to a strong buy while;

1. Lowering target from 288 to 122
2. FY 2000 loss revised upward from $1.24 to $1.49
3. FY 2001 loss revised upward from $ .93 to $1.29

So what makes this a better stock? Is PJ angling to underwrite a secondary? Meanwhile A@P calls it a POS. That I can understand, no confusion there. I think I'll be short.

Fast Eddie

RESEARCH ALERT - FreeMarkets raised to strong buy
NEW YORK, April 18 (Reuters) - US Bancorp Piper Jaffray said on Tuesday that analysts Timothy Klein and Allison Gage upgraded FreeMarkets Inc. (NASDAQ: FMKT) to a strong buy rating from a buy.

-- the price target, however, was lowered to $122 from the previous price target of $288.

-- On Monday FreeMarkets announced first-quarter loss that was smaller than expected on stronger revenues. It also announced it signed a contract with Visteon Corp., Ford Motor Co.'s (NYSE: F) auto parts unit.

-- Fiscal year 2000 revenue estimate was raised to $61 million from $47.7 million; the fiscal year 2001 revenue estimate was raised to $109.7 million from $84.9 million.

-- The cash loss per share estimate was revised upward to a loss of $1.49 in fiscal year 2000 from a loss of $1.24 and revised upward to a loss of $1.29 in fiscal year 2001 from a loss of $0.93.
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