The analysts never stop making me laugh. Break out the stupid stick again. I wonder what his original target prices were based on since he now wants to assert a 'prudent view'?
NEW YORK -- Jefferies & Co. analyst Fred Moran lowered his 12-month price targets for 15 stocks in the Internet, telecommunications, media and technology sectors Thursday.
Moran attributed the reductions to the need for "a more prudent view" of the potential for stock price appreciation in these sectors.
"The dot-com advertising slowdown, potential economic slowdown, increased competition and earnings shortfalls have weighed on the shares of (the) stocks since last spring," Moran wrote in a research note.
Moran cut his target for America Online Inc. (AOL) to $100 from $110. He also lowered the target for AOL's merger partner, Time Warner Inc. (TWX), to $150 from $165.
The other price target reductions were:
* EarthLink Inc. (ELNK), to $12 from $20
* Juno Online Services Inc. (JWEB), to $3 from $5
* Prodigy Communications Corp. (PRGY), to $6 from $8
* ZipLink Inc. (ZIPL), to $3 from $5
* Exodus Communications Inc. (EXDS), to $65 from $100
* PSINet Inc. (PSIX), to $12 from $20
* Excite@Home Corp. (ATHM), to $15 from $25
* Lycos Inc. (LCOS), to $50 from $70
* Yahoo! Inc. (YHOO), to $125 from $200
* Viacom Inc. (VIAB), to $80 from $90
* Alltel Corp. (AT), to $85 from $88
* Nextel Communications Inc. (NXTL), to $50 from $55
* U.S. Cellular Corp. (USM), to $80 from $95 |
