Lehman initiates BCST with "Buy." Bullish for AXC!
LEH initiates coverage with "Buy" on BCST *ahead* of earnings (01/28 after close). Very unusual, very bullish for AXC!
Here's the post from the BCST board.
BAM
To: B. A. Marlow (419 )
From: Bongagong Wednesday, Jan 27 1999 11:29AM ET
Reply # of 424
RESEARCH ALERT- Broadcast, AtHome started
NEW YORK, Jan 27 (Reuters) - Lehman Brothers on Wednesday said analyst Brian Oakes started coverage of AtHome Corp. with an outperform rating and a $130 price target.
-- Lehman also initiated coverage on Broadcast.com's shares with a buy rating and 12-month price target of $200 per share.
-- AtHome which provides broadband access to the Internet. Although the current subscriber base, at about 311,000, remains small, the market is ripe for its product and competitive offerings do not pose a serious threat at this time, Oakes said.
-- "Fundamentals are strong and the company continues to execute, although the stock's rich valuation tempers our enthusiasm," he added.
-- Broadcast.com, a distributor of streamed Internet video and audio broadcasts, is poised to benefit from increased use of broadband and advertisers' wishes to place rich, multimedia ads on the Web.
-- Broadcast is a category leader, and Lehman sees it as a core, long-term Internet holding.
-- shares of AtHome rose 7-1/8 to 117 on Wednesday morning.
-- shares of Broadcast rose 7-1/2 to 146-1/4 on wednesday morning
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