PacketPort.com, Inc SPECULATIVE BUY Rating Sherry Grisewood, CFA $17,500 per annum.is available online at www.investrend.com.
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Public Analysis & Review Announces Investment Opinion on PacketPort.com, Inc
Business Wire, Feb 16, 2000
Business Editors
NOTE TO EDITORS: The following is an investment opinion issued
by Public Analysis & Review:
NEW YORK--(BUSINESS WIRE)--Feb. 16, 2000
PacketPort Receives SPECULATIVE BUY Rating in Initial PAR Coverage
A Speculative Buy Rating is Issued on PacketPort.com, Inc. by PAR analyst Sherry Grisewood, CFA, in Initial Research Report. A twelve-month target price is set at $16. The PAR Report, distributed by Investrend Research, is available online at www.investrend.com.
Ms. Grisewood details the Company's strategy to obtain a significant share of the exponentially growing VoDSL (Voice over Digital Subscriber Line) market, expected at $9 billion in 2003, by leveraging the technical capabilities of VoIP pioneer Linkon Corporation, acquired in November 1999. 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:
-- PacketPort.com intends to become a leading supplier of vendor neutral, open
platform, highly interoperational end-to-end VoDSL "in the box" solutions.
-- The Company has a strong technology base that supports an active product
development program for introduction of new products that should be
technologically and cost competitive.
-- High-speed broadband access will explode from 1% of all American households
in 1998 to 44% of all on-line connections by 2004. DSL is expected to garner
about 40% of this market. DSL can become a $9 billion annual market by Y2003.
-- We expect that PacketPort, with adequate financing and adherence to its
scheduled roll out of DSL products, can obtain a significant share of this
market for DSL.
-- Almost all the major players are still private or have been acquired by
large telecom companies. The 6 or 7 public companies in the space have market
capitalizations ranging from $800 million to $8 billion. With a market cap of
only $160 million, PacketPort can offer investors substantial upside potential
if the Company delivers on its new business plan and puts planned competitive
VoDSL products into the market quickly.
The February 16 PAR report sets a 12-month target price of $16, versus a current price of $9 1/2. PacketPort must first complete its financing and execute its business plan, which would cause rapid revision to the target price. The issues facing VoDSL suppliers are largely telephony issues relating to quality and reliability of service, integration with existing OSS, billing, and customer care applications, areas in which PacketPort (Linkon) products have already proven successful.
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.
Contacts: PacketPort.com 587 Connecticut Ave., Norwalk, CT 06854 Contact: Charles Castelli, 203-831-2268 email: CharlesC@packetport.com, Web site: www.packetport.com.
Investrend Research, Inc. John M. Dutton, President. 801 S. Figueroa, Suite 1400, Los Angeles, CA 90017 Phone: 213-929-2618, Email jmdutton@mediaone.net Investrend Research Home Page: www.investrend.com.
Please read PAR disclaimers found on Investrend web site (www.investrend.com) before investing. Public Analysis & Review (PAR) is a program of the Investors Research Institute, Inc. (IRI), a non-profit membership organization for individual investors and others advocating higher standards of "accessibility", "scrutiny" and "disclosure" for public companies. Anyone, including a company, may enroll a company for coverage. PAR reports are performed on behalf of the members of the Institute, and are not a service to any company. PAR analysts are responsible only to the public, and are qualified and assigned solely by the Institute, separate from the fiduciary entity, which is Investrend Communications, Inc. (IRIK), a public company in registration and financial administrator for the non-profit Institute. PAR analysts are paid in advance to eliminate pecuniary interests and insure independence. PAR enrollment fees are $17,500 per annum.
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