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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Redhook who wrote (19537)	8/12/1999 1:18:00 PM
From: AlienTech	Respond to of 43080

In a research note this morning, Blodgett commented on INIT's "solid first quarter out of the box" which "exceeded [their] expectations in revenue and EBITDA per share." He raised his revenue estimates for 1999 and 2000, although he comments that they "have been very conservative in [their] estimates and believe that there could be some upside to [their] numbers in the next few quarters." He also notes that his price target is primarily based on a revenue multiple, and that if the sector multiple expands (or contracts) they "will have to reset [their] price objective." Blodgett maintained his NT Accumulate / LT Buy rating.