Investrend Research Announces Investment Opinion on PacketPort.com, Inc
Business Wire, August 1, 2000
Business Editors
NOTE TO EDITORS: The following is an investment opinion issued
by Investrend Research
NEW YORK--(BUSINESS WIRE)--Aug. 1, 2000
A Speculative Buy Rating is maintained on PacketPort.com, Inc. by
Investrend analyst Sherry Grisewood, CFA, in her Quarterly Update Report. A twelve-month target price is set at $10-$12. The Investrend
Report is available online at www.investrend.com
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Ms. Grisewood details the Company's progress in its strategy to obtain a significant share of the exponentially growing VoDSL (Voice over Digital Subscriber Line) market, expected at $9 billion in 2003. As a July 1999 Cahners In-Stat Group market analysis states, "Voice over DSL will emerge as the first 'Killer' application to propel widespread usage of DSL". She concludes:
In February of this year, we initiated coverage of PacketPort.com at $9 1/2 with a speculative buy rating. PacketPort.com intends to become a leading supplier of vendor-neutral, open-platform, highly interoperating end-to-end Voice Over (Voice over Digital Subscriber Line and Voice over IP) "in-the-box" solutions. There are several broadband service providers and broadband semiconductor companies in the public domain. However, this is not true of pure "Voice-Over" equipment providers. Almost all the major players are still private or have been acquired by large telecom companies such as Tellabs. Market caps for the six or seven public companies in the space, while down substantially from peaks in February, still range from several hundred million to into the billions. With a market cap of approximately $40 million (based upon fully diluted shares), PacketPort can offer investors substantial upside potential if the Company can deliver on its new business plan and put competitive Voice Over products into the market quickly.
Ms. Grisewood has had extensive experience as a sell side analyst, primarily in small cap stocks, and has worked for such firms as DLJ, and EF Hutton. She has over 15 yrs experience as an independent special situations and small cap analyst, and in addition she has been writing cash & futures market commentary since 1982. In additional, she has performed extensive analysis for investment banking projects and currently has her own practice working on securities analysis. Ms. Grisewood holds a BS degree with Highest Honors from Ramapo College of NJ and is a member of The New York Society of Security Analysts.
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