Thursday May 6, 5:17 AM (EST)
EBI SECURITIES REITERATES ITS BUY RATING OF ONLINE SYSTEM SERVICES
And Substantially Raises its Price Targets
DENVER, May 6 /PRNewswire/ -- The following is being issued by EBI Securities, a member of the National Association of Securities Dealers, CRD number 16184:
David Lavigne, CEO and Director of Research of EBI Securities, has
reiterated his buy rating of Online System Services (Nasdaq: WEBB) and substantially raised his 12 and 24 month price targets to $40 and $70 respectively. Mr. Lavigne commented, "The timing of our upgrade to a strong buy is based on the following anticipated events: 1) The launch of WEBBUILDER(TM) -- in our view, the very best web-site development tool available anywhere; 2) Personal portals -- OSS again has created a superior product offering and is strategically ahead of the pack; 3) The recent acquisition of NetIgnite; 4) Its recent penetration in the online banking software arena validated by a recent major contract award; 5) An outstanding team has developed with the additions of industry heavyweights Lisa Lai, Perry Evans, Andre Durand and more to come; 6) The recent TCI-OSS alliance. The broadband content opportunity for OSS in the educational arena is substantial.
Finally, we fully expect OSS will soon be recognized by prospective corporate partners, needing to acquire part or all of OSS to fill a critical strategic need. The spaces OSS is trailblazing are particularly hot right now as evidenced by the recent buyouts/equity stakes in Geo-cities and Go2Net at enormous valuations. The valuation of OSS relative to its peer group and relative to our intermediate and long term model is extremely attractive. This should quickly change when these events develop and major investment banks and analysts jump on board. Therefore, we expect OSS to significantly outperform its sector and the market averages."
EBI Securities Corporation (EBI) is a wholly owned, full service brokerage firm specializing in investment counsel for individuals and small institutions and in capital formation for emerging-growth companies. As a subsidiary of Eastbrokers International Inc., a publicly traded company (Nasdaq: EAST; Berlin and Frankfurt Stock Exchanges: ETB), EBI has offices located throughout the United States including: Englewood, CO, Denver, CO, Aspen, CO, Colorado Springs, CO, Mesa AZ, LaJolla, CA, Los Angeles, CA, Newark, DE, Boca Raton, FL, Baltimore, MD, Farmington Hills, MI, Aberdeen, NJ, Sea Girt, NJ, Albuquerque, NM, New York, NY, Charlotte, NC, Seattle, WA and Spokane, WA. EBI is a member of the National Association of Securities Dealers (NASD) and Securities Insurance Protection Corporation (SIPC). Eastbrokers International is headquartered in Rockville, Maryland with 12 offices located throughout central and Eastern Europe. Eastbrokers operates a highly diversified, international, investment banking and securities network. In Europe, Eastbrokers operates WMP BankAG, an Austrian bank and brokerage company, in which the company maintains a minority interest. The Company also operates other brokerages throughout Central and Eastern Europe.
CONTACT: David Lavigne, CEO, Dir. of Research of EBI Securities Corporation, 800-289-5691.
SOURCE EBI Securities
-0- 05/06/99 /CONTACT: David Lavigne, CEO, Dir. of Research of EBI Securities Corporation, 800-289-5691/
(WEBB EAST)
CO: EBI Securities Corporation; Online Systems Services; Eastbrokers
International Inc. ST: Colorado IN: CPR FIN SU: RTG
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