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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (14937)	8/27/1999 12:46:00 PM
From: James Tarifa	Read Replies (1) \| Respond to of 29970

"... ATHM worth $100/share!" Keith Benjamin is the lead Internet Analyst with BancBoston Robertson Stephens. In his newsletter dated 8/27/99 he writes: "EXCITE @HOME - Looking Past Confusion - We believe most of the confusion appears to be centered around AT&T's perceived level of commitment, while open access issues appear to have subsided for the moment. We believe Excite @Home represents the fastest way for AT&T to pay for its $140 billion investment in cable infrastructure, by capturing a larger portion of the estimated $150 that households will spend monthly on communications and entertainment (cable, telephone, Internet, etc.). We believe the company's fundamental outlook has been improving substantially, setting the stock up to move higher when the confusion clears. Based on our telephone survey with 20 of @Home's cable partners, we believe the new subscriber rollout is on schedule. We found that there was a two to four week installation backlog in the market, giving high visibility for our 1999 year-end 1.1 million subscriber estimate. We believe that there is upside to subscriber growth in Q4 and beyond with the role out of DOCSIS modems. We believe Excite @Home could begin to show its breadth of vision with new partnerships, including deals for "@Home-Ready PCs" with PC manufacturers and other customer acquisition initiatives with large companies such as Microsoft. We believe Excite @Home is one of the only Internet companies with a compelling asset value. Based on a sum-of-the-parts valuation of MatchLogic, Excite, and @Home, we estimate the company could be worth $40 billion, or $100 per share."