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Technology Stocks : Covad Communications - COVD
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From: Captain James T. Kirk3/20/2006 5:28:22 PM
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Needham analyst Greg Mesniaeff upgraded the San Jose, Calif., company to "Buy" from "Hold," and said in a client note he is "increasingly convinced" the company will execute its goal of posting positive earnings before interest, taxes, depreciation and amortization -- known as EBITDA, an indicator of financial performance -- in the third quarter.

"We also believe that Covad's deepening ties with Internet service providers such as EarthLink could potentially expand to other major portals," the analyst added. Covad had said last week it received $50 million in financing from Earthlink Inc. to fund the expansion of its voice services to new markets.

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