EBI Securities Initiates Research Coverage of DATA RACE (Nasdaq: RACE) With A Buy.
Author/s:
Issue: June 24, 1999
DENVER, June 24 /PRNewswire/ -- The following is being issued by EBI Securities, a member of the National Association of Securities Dealers, CRD number 16184:
David Lavigne, Director of Research of EBI Securities, has initiated research coverage of Data Race Corp. (Nasdaq: RACE) with a buy rating and a 12-18 month price target of 7 1/2 based on the strength of the Company's Be There! Technology. Mr. Lavigne commented, "I believe that the technology could lead to significantly higher valuations for Data Race shares if the Company can successfully forge relationships with larger industry partners, with resources to fully exploit the potential of the Be There! Technology."
Data Race, Inc., is a San Antonio, Texas based company engaged in the design, manufacture and sale of proprietary telecommunication technologies. The Company's primary technology is embodied in a product called Be There! which allows for the simultaneous transmission of both voice and data over a single line. The product not only works over a single standard telephone line, but is compatible under a wireless solution as well, and addresses the rapidly growing teleworker, telecommuter and "road warrior" markets.
EBI Securities Corporation (EBI) is a publicly owned, full service brokerage firm specializing in investment counsel for individuals and small institutions and in capital formation for emerging-growth companies. As a subsidiary of Eastbrokers International Inc., a publicly traded company (Nasdaq: EAST; Berlin and Frankfurt: ETB), EBI has 20 offices located throughout the United States including: Englewood, CO, Denver, CO, Aspen, CO, Colorado Springs, CO, Mesa, AZ, La Jolla, CA, Los Angeles, CA, Newark, DE, Boca Raton, FL, Baltimore, MD, Farmington Hills, MI, Aberdeen, NJ, Sea Girt, NJ, Albuquerque, NM, New York, NY, Charlotte, NC, Seattle, WA, and Spokane, WA. EBI is a member of the National Association of Securities Dealers (NASD) and Securities Insurance Protection Corporation (SIPC). Eastbrokers International is headquartered in Rockville, Maryland and has 12 offices located throughout central and Eastern Europe. Eastbrokers International operates a highly diversified, international, investment banking and securities network. In Europe, Eastbrokers operates WMP Bank AG, an Austrian bank and brokerage company, in which the Company maintains a minority interest. The Company also operates other brokerages throughout Central and Eastern Europe.
Information and statements contained herein, other than historical information, should be considered forward looking, which involve risk and uncertainties. EBI Securities Corp., its officers, directors and affiliates may maintain positions in the securities referenced, which may change at any time without notice. EBI is a market maker in the common stock of RACE. The securities referenced are speculative in nature and may not be suitable for your investment objectives.
CONTACT: David Lavigne, Director of Research of EBI Securities Corporation, 800-289-5691.
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