E*OFFERING Initiates Coverage on Verticalnet, Inc. (VERT) With a Buy Rating
SAN FRANCISCO, July 21 /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 VerticalNet, Inc. (Nasdaq: VERT) - (BUY, $57-1/2) with a BUY rating and a 12-month price target of $85.
"VerticalNet, an established leader in the rapidly growing business-to-business (B2B) e-commerce industry, is in the midst of a very important transition, presenting an excellent opportunity for investors," said Vice President and Senior B2B E-Markets and Services Analyst John Ederer. "The company has recently completed several important ventures, including acquisitions of key technology components, expansion into international markets, and an extensive agreement with Microsoft Corp. (Nasdaq: MSFT) ($74-13/16), leaving VERT well positioned to capture shares in the mammoth B2B e-commerce market."
Ederer also added, "We believe that the company is transitioning from a primarily content- and advertising-based business model to one that is focused on generating significant e-commerce transaction revenue. As the company continues to convert its broad base of vertical trade communities into e-commerce engines, we expect revenues and margins to increase dramatically."
To read Ederer's report on VerticalNet, Inc., or to learn more about the B2B E-Markets and Services sector, please visit the E*OFFERING website at www.eoffering.com. |
