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Technology Stocks : Exodus Communications, Inc. (EXDS) -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (650)	6/24/1999 11:11:00 AM
From: William F. Wager, Jr.	Respond to of 3664

BancBoston Robertson Stephens Gives Update on eCommerce Services Industry Analyst Rick Juarez Reiterates Buy Ratings on CNCX, EXDS, PSIX SAN FRANCISCO, June 23 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens senior eCommerce analyst Rick Juarez today gave an update on the eCommerce services industry, reiterating his Buy ratings on Concentric (Nasdaq: CNCX - news), Exodus (Nasdaq: EXDS - news), and PSINet (Nasdaq: PSIX - news), in the wake of Metromedia Fiber Network's acquisition of Abovenet. ''We believe that the $1.55 billion Metromedia deal bodes well for the inherent valuations of Concentric, Exodus, PSINet, all leading eCommerce services players,'' said Juarez. ''In our view, the three companies are better positioned versus AboveNet, which will warrant premiums to their current valuations: 1. Concentric's position as a leading integrated hosting and access player drives up its value. 2. PSINet has a global carrying capacity that far exceeds that of AboveNet's, which leads us to believe that PSINet's valuation also warrants a premium. 3. Exodus' vast, state-of-the-art hosting capabilities are superior qualitatively and quantitatively to those of AboveNet, thereby warranting, in our view, a higher valuation as well.'' ''We reiterate our ongoing assertion, stated in our April 2, 1999, Virtual Bricks(TM) report, that consolidation will continue in the access and hosting markets,'' said Juarez. ''We expect to see access companies become net acquirers of hosting and hosted application companies, as they move up the food chain toward higher-margin, value-added service offerings and away from a pure access model.'' Clients interested in receiving more information should contact their salesperson at 415-781-9700. BancBoston Robertson Stephens is a leading international investment banking firm focused on emerging growth companies. The firm's 55 equity and high yield research analysts cover more than 600 companies. Additional information is available upon request.