ATLANTA (April 12) BUSINESS WIRE -April 12, 1999-- J.P. Turner &
Company, L.L.C. Initiates Research Coverage of HomeCom Communications
(HCOM) with a Buy Rating and a One-Year Price Target of
$10.75
J.P. Turner & Company, L.L.C. (http://www.jpturner.com) today
announced initial research coverage of HomeCom Communications, Inc.
(NASDAQ Small Cap: HCOM) with a "Buy" recommendation and a 12-month
price target of $10.75 (HCOM closed at $5.75 on 4/8/99).
The 28-page report recommending the buy cited a doubling of revenue
from a recent merger, a number of significant contracts, and HCOM's
focus on a growth area of the Internet industry. A summary of the
report is that if HomeCom can concentrate its efforts on delivering
core internal growth and synergistic acquisitions, then HomeCom will be
able to aggregate sufficient revenues to achieve a market breakout. The
market has rewarded Internet companies that have achieved these goals.
HomeCom's software solutions enable financial institutions to
establish an electronic channel to consumers and business by providing
secure, innovative Internet, intranet, and extranet based solutions to
the banking, insurance, and brokerage industries.
While the information has been obtained from sources we believe to be
reliable, its accuracy and completeness are not guaranteed. Opinions
expressed are subject to change without notice. J.P. Turner & Company,
L.L.C. is a registered broker/dealer and is a member of NASD and SIPC.
J.P. Turner & Company., L.L.C. makes a market in HCOM securities, has
acted as Placement Agent for HomeCom, and holds warrants to purchase
HCOM common stock. The firm and its respective officers, directors,
stockholders, or employees may maintain additional positions in the
security. This release may contain forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Reform
Act of 1995. Forward-looking statements concerning future plans or
results of the Company are only estimates and actual results could
differ materially from expectations.
-0- tas/cgo*
CONTACT: J.P. Turner & Company Capital Markets
Mr. Robert Gray, 404/479-8387
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