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Technology Stocks : Drugstore.com Inc - (Nasdaq : DSCM ) -- Ignore unavailable to you. Want to Upgrade?

To: jk28 who wrote (70)	12/7/1999 1:35:00 PM
From: jk28	Read Replies (1) \| Respond to of 132

RESEARCH ALERT - drugstore.com <DSCM.O> rated buy NEW YORK, Dec 7 (Reuters) - Salomon Smith Barney said on Tuesday analyst Holly Becker started coverage of online pharmacy drugstore.com Inc. with a buy rating. "drugstore.com is our top pick in the online retail area, as we believe it offers the most near-term upside price potential," the analyst said in a research note. set a price target of $80 a share, up 75 percent from current levels. said the share price could be very volatile and assigned the stock a speculative risk rating. In early trading, the stock was up 2-9/16 to 50-13/16. For three weeks the stock has been climbing steadily higher from an all-time low of 27-2/16. The Bellevue, Wash.-based company is backed by online retail giant Amazon.com Inc. <AMZN.O>, billionaire Paul Allen's Vulcan Ventures and Internet incubator Kleiner Perkins Caulfield & Byers. The company went public in July at $18 a share and spiked as high as $70 a share on its first day of trading, closing at $50.25. The stock fell sharply, 54 percent, in August from its highest price but managed to rally back just shy of its peaks late in the month before turning into a steady downtrend for two months. Morgan Stanley, Donaldson Lufkin & Jenrette and Thomas Weisel Partners LLC were the lead underwriters of the company's initial public offering. 12:40 12-07-99