Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (60677)	10/17/2000 1:50:20 PM
From: StockDung	Read Replies (1) of 122087

RESEARCH ALERT-Lehman 'cautious' on Yahoo NEW YORK, Oct 17 (Reuters) - Lehman Brothers analyst Holly Becker said Tuesday she was still "cautious" on Yahoo Inc. <YHOO.O> shares despite a drop in the Internet media company's stock price on concerns about advertising spending. Shares of Yahoo fell $5-1/2, or 10 percent, at $49-3/4, a new 52-week low, on Nasdaq. She said in a research note that there is an expectation that after six to nine months of calling on traditional advertisers, dollars will come "pouring in," but she said Lehman's research suggested it may take longer to turn the "toe-dipping budgets into real dollars." While Yahoo is diversifying its revenue base with wireless and electronic commerce, Lehman does not think the impact may be felt for some time. Investors should expect single-digit sequential sales growth and margin pressure. At $55 a share, Yahoo's stock is still not cheap, even though it is down 72 percent year to date, she said. She said that the dot-com environment has worsened and Yahoo's third quarter had less upside in sales and earnings than in recent quarters. The company disclosed its exposure to dot-com companies at 40 percent of total sales. Ultimately, Becker thinks online advertising will become a large, profitable business, and Yahoo and America Online Inc. <AOL.N> stand to be the winners. 13:05 10-17-00

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