"E*OFFERING Initiates Coverage on FreeMarkets, Inc. (FMKT) With a Buy Rating"
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SAN FRANCISCO, July 10 /PRNewswire/ -- The following is being issued by E*OFFERING, a member of the National Association of Securities Dealers, CRD Number 036717:
E*OFFERING, a leading Internet investment bank, initiated coverage today on FreeMarkets, Inc. (Nasdaq: FMKT - BUY, $45-49/64) with a BUY rating and a 12-month price target of $75.
"FreeMarkets' unique business model combines proprietary auction software, an electronic marketplace, and a wide variety of market-making and other value-added services," said Vice President and Senior Business-to-Business (B2B) E-Markets and Services Analyst John Ederer. "We believe that this combination of technology and services represents the next generation of B2B e-commerce platforms, as it simplifies the process for companies seeking to procure industrial goods and services via the Internet and provides measurable cost savings. Further, in this volatile investment environment, we believe that investors will be best served by focusing on companies like FreeMarkets that have proprietary platforms and are adding real value."
Ederer is also the author of B2B Banter, a newsletter published twice a month that highlights recent news in the B2B E-Markets and Services industry. The newsletter includes a number of recurring sections, such as "Headlines," which includes updates on who's hot and who's not, who's funding whom, and who's acquiring whom; "Comparable Company Analysis," which creates a snapshot of forward multiples; "B2B Indices," which compares the B2B E-Markets and Services and the Software and the B2B Software and Infrastructure indices with the Nasdaq Composite; and a "Conference Schedule," which lists pertinent B2B conferences for both investors and industry insiders, among others.
To read Ederer's report on FreeMarkets, Inc., or the latest edition of B2B Banter, or to learn more about B2B E-Markets and Services, please visit the E*OFFERING website at www.eoffering.com.
E*OFFERING complements the reach of traditional investment banks by structuring the online offering as an integral part of the capital raising process. Through its reach into the online retail market, E*OFFERING is changing the dynamics of investment banking to reflect the opportunities created by the Internet economy.
About E*OFFERING
E*OFFERING (member NASD/SIPC), headquartered in San Francisco, was founded in January of 1999 with the objective of democratizing the capital markets. It successfully enables its issuers to access and use capital more effectively by leveraging the broadest investment community of retail and mid- and top-tier investors available. E*OFFERING has combined financial expertise, top-notch people, and Internet infrastructure to enable this. Funding for E*OFFERING was provided by E*TRADE Group, Inc (Nasdaq: EGRP $15-13/16), General Atlantic Partners, SOFTBANK Venture Capital, New Enterprise Associates, Battery Ventures, Crosspoint Venture Partners, Sandy Robertson, founder and former CEO of Robertson Stephens, and Walter Cruttenden, founder and former CEO of Cruttenden Roth.
Additional information is available upon request.
Unless otherwise noted, prices are as of Friday, July 7, 2000.
SOURCE E*OFFERING Corporation
/CONTACT: Rich Horn, rhorn@eoffering.com, or Maryellen Mullin,
mmullin@eoffering.com, both of E*OFFERING, 415-618-6200, or fax, 415-618-6202/ |
