From CBS MarketWatch:
Monday, June 26, 2000
--3:30 pm Motient soars on Wit note
Motient (MTNT: news, msgs) is surging 1 15/16, or 15.4 percent, to 14 11/16. Wit Soundview analyst Tim O'Neill reiterated his "strong buy" rating and $60 price target on the Reston, Va., mobile and Internet communications firm Monday. "We believe there will be positive catalysts in the near future that will breathe life into the only robust two-way domestic data story," O'Neill writes in a research note issued this morning. O'Neill goes on to list a number of potential scenarios, including a deal to increase liquidity, either through the leasing of satellite space or an asset sale. O'Neill says the relief of financing issues will pave the way for Motient to pursue other aggressive strategic moves, possibly a deal with a major Internet service provider or the development of a product to work with handheld computing devices. "Motient is the best way to play the huge potential of wireless data as it is superior to other data offerings on the market today," O'Neill writes, "It addresses the one proven application that both consumers and businesses are requiring ? wireless e-mail." |
