FWIW - another analyst report. BTW, who are these guys?
Time To Take Profits In CMGI, Analyst Advises (CMGI) - Report
Newstraders - March 09, 1999 13:04
(NewsTraders.com)-- CMGI Inc. (CMGI) shares are on an absolute tear, racing to yet another new high today, but it may be time to take profits in this Internet highflier, advises Individual Investor Online analyst Dave Sterman.
Highlights:
- The stock has jumped from $33 on Dec. 14, 1998, to around $215 today, representing over a 450% gain in three months.
- Sterman downgraded the company to "sell" and called the move "especially difficult" and against conventional wisdom of letting the winners keep winning.
- CMGI is scheduled to take more holdings public later this year, but the investment community has already priced this information into its current stock price.
- "Not a single shred of evidence has caused us to alter our fundamental long-term bullish outlook on CMGI," Sterman says, but at current levels he advises investors to take some money off the table and invest in cheaper stocks.
Copyright 1999 NewsTraders Inc. All Rights Reserved 13:04 Tuesday, March 09, 1999
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