Well, I nibbled on a little at $1.34...
NEW YORK, June 21 (Reuters) - UBS Warburg on Thursday said
it cut its price targets for Web hosting companies Exodus
Communications Inc. <EXDS.O> and Digex Inc. <DIGX.O>.
Analyst John Hodulik sharply cut his target for Exodus to
$3 from $15. On Wednesday, the company lowered second-quarter
sales and earnings forecasts and warned of more job cuts.
Shares of Santa Clara, California-based Exodus plunged
$1.03, or 46 percent, to $1.22 Thursday on Nasdaq, a new
52-week low. The stock's previous low was $1.95, and is 98
percent off the year-high of $69.
Hodulik said in a research note he based the reduction on
"increased funding risk to the company, continued softness in
the hosting market and issues of management credibility."
Hodulik also reduced his price target for Beltsville,
Maryland-based Digex to $15 from $22, citing deterioration in
the Web hosting sector.
Digex's shares slumped $1.13, or 10 percent, to $10.35 on
Nasdaq, off the 52-week high of $94.73.
((--Jackie Sindrich, New York Newsdesk, 646-223-6000--))
REUTERS |
