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Technology Stocks : America On-Line: will it survive ...?

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To: Brian K Crawford who wrote (5735)11/10/1997 7:51:00 PM
From: John Kratus  Read Replies (1) of 13594
 
Brian quotes:

From Alex Brown

<< VALUATION AND RATING: We place a 12-month target price of $115 on AOL stock which equates
to a $15 bb market capitalization arrived at by assuming a $750-1,000 per subscriber multiple of 12.5
mm mid-CY 1998 members plus a 10x multiple of our $500 mm CY 1998 adver-commerce revenues. We
maintain our "strong buy" investment rating on AOL stock. >>

And THIS is the assumption upon which A.Brown recommends AOL?

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!
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