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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: JD Writer who wrote (40671)5/18/1999 1:39:00 PM
From: SAMS BONE  Read Replies (4) of 120523
 
ABOV heres the news

Volpe Brown Whelan & Co. 12-month price target $71.

Here are some comments from Charles H Finnie and Richard Peterson, analysts at Volpe Brown Whelan &
Co.

" Wins Flycast from Exodus: AboveNet announced yesterday after the close that it had won a contract to
provide bandwidth for Flycast Communications, a leading Web advertising network. Flycast had been using
Exodus for its hosting/co-location needs. Flycast will be moving out of the Exodus facility into a facility
managed by AboveNet. AboveNet is servicing the Flycast contract in partnership with VIDS Technologies, a
leading high-bandwidth systems integrator and solutions provider. AboveNet
has recently announced contracts with DoubleClick and HotMail, in addition to Flycast.

Flycast is a leading Web advertising network serving almost 1 billion ads monthly to over 900 affiliate sites.
1 billion ads per month equate roughly to 60 MpS of peak bandwidth usage. We assume that AboveNet
charges $700 per MpS monthly. This implies that Flycast will spend $600k in bandwidth alone over the next 12
months, assuming no growth in the number of ads served by Flycast. VIDS Technologies Inc. is a leading
technology solution provider, with customers including SBC, Pacific Bell, Southwestern Bell, Chevron, Kaiser,
Pacific Gas & Electric, Wink Communications, Polycom, and MCI.

Summary: We are maintaining our STRONG BUY recommendation and think that ABOV could trade to $71
per share over the next 12 months. "
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