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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (4231)9/28/2000 1:05:32 PM
From: Dealer  Read Replies (1) of 65232
 
RNWK--Morning Comments from WR Hambrecht & Co.
9/28/00
Source: WR Hambrecht & Co.
San Francisco, CA, September 27, 2000, 8:40 PST
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RealNetworks

NASDAQ: RNWK
Rating: BUY (We anticipate the stock will outperform the S&P 500 over the next 12 months.)
Sector: eMedia
Price Target: $62
RNWK: Recent Sell-Off Creates Buying Opportunity
Bill Lennan believes the recent sell-off of RNWK shares has created a buying opportunity for long-term investors. We believe RNWK will beat our relatively conservative Q3:00 revenue estimate; given RNWK's decidedly conservative approach to financial reporting and its excellent communication with analysts, we would be very surprised by anything but a strong quarter. We also believe the continued decline of the euro in dollar terms will not materially inhibit RNWK's European sales, which surged in Q2:00, when the euro's relative decline was much greater than it has been so far in Q3:00.
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