Ray,
Another analyst checks in on COVD:
Thursday, October 05, 2000
CE Unterberg on COVD
--2:23 pm - By Michael Baron
Covad Communications (COVD: news, msgs) is gaining $1.88, or 18.2 percent, to $12.19, after C.E. Unterberg, Towbin reiterated its "strong buy" rating on the Santa Clara, Calif., broadband services firm. In the research note accompanying the reiteration, C.E. Unterberg expressed confidence in the company's management team and said Covad's fundamentals holding well. "Despite a severely weakened sector, Covad's fundamentals are looking as good as we can expect," the note reads. "Funding issues are not an issue as Covad has raised $650 million and is now funded into 2002." C.E. Unterberg also raised its revenue estimates for 2001 and 2002. "The current market environment is shutting down potential competitors and we are beginning to see price stability," the note reads. "We believe Covad will be the leader in adding DSL lines and growing revenue to reach critical mass enabling a significant cost advantage."
Ken |
