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Technology Stocks : RCN Corp. (RCNC) - Voice-Video-Internet
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To: jas cooper who started this subject11/9/2000 7:57:21 AM
From: Paul Lee  Read Replies (1) of 720
 
theinternetanalyst.com

RCN CORP. (RCNC): RCN received a STRONG BUY reiteration from Thomas Weisel Partners on Oct. 31. RCN, which is a competitive local-exchange carrier that is focusing on residential markets, reported third-quarter results. As seems to be the case with the companies that make their way into this column, RCN beat analysts' expectations on both the top and bottom lines. RCN's revenue was $107.6 million in the quarter, better than the $103.2 million Weisel Partners had forecast. As a result, they raised its 2000 revenue target to $404.1 million, from $95.7 million, and narrowed its estimate of the full year loss to $10.25 a share from $10.42 a share. In 2001, Weisel Partners projects a loss of $11.35 a share on revenue of $528.9 million. The firm reports that RCN's model is scaling well, and its bundled services are selling particularly well in residential areas – twice as fast as expected, according to the company. Weisel Partners values RCN using a discounted cash-flow model, and its year-end 2000 target price is $52. RCN shares closed at $17.56 on Nov. 3. RCN research was accessed 408 times, and 11 new reports were added to the Multex.com database during the week of Oct. 23 to 29.
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