Tim, this is the article where SAPE mentioned as a strong buy...
Web Consulting Firms' Shares Slip on Comments From CSFB Analyst
Web Consulting Firms' Shares Slip on Comments From CSFB Analyst NEW YORK -(Dow Jones)- Shares of Internet consulting firms fell Wednesday after analysts at Credit Suisse First Boston Corp. warned of possible third-quarter disappointments and lowered their investment ratings. Citing the demise of many dot-com companies and the usual summer slowdown, analyst Mark Wolfenberger and his associates said Web consultancies face "dramatically softer" demand for their services this quarter. It may take some time for business to pick up given the indecision among corporations on how they will spend their information technology budgets next year, the analysts added. With demand returning to lower, albeit more normal, levels, Mr. Wolfenberger said in a research note that Wall Street growth estimates might have to come down and "several pre-announcements (are) possible this quarter." Since many of the Internet consulting firms have already fallen well off their once-lofty levels, they are unlikely to fall much further "but are likely dead money" until these firms begin to outperform again, Mr. Wolfenberger wrote. Mr. Wolfenberger lowered his ratings on Cambridge Technology Partners Inc. (CATP), iGate Capital Corp. (IGTE), Modem Media Inc. (MMPT), Rare Medium Group Inc. (RRRR) and Viant Corp. (VIAN). CSFB kept its buy rating on Lante Corp. (LNTE) but cut its 12-month price target to $15 from $60. Wolfenberger kept his "strong buy" ratings on Sapient Corp. (SAPE), Razorfish Inc. (RAZF) and MarchFirst (MRCH). Last week Mr. Wolfenberger and his CSFB colleagues sounded a note of caution when they initiated Scient Corp. (SCNT) at "hold," warning its exceptional revenue growth would slow. (Compiled from Dow Jones Newswires and other sources) Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved-0- 15:11 EDT AUGUST 30, 2000 |
