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Technology Stocks : Command Systems, Inc. (CMND) -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (285)	4/29/1998 11:09:00 AM
From: DD™	Read Replies (2) \| Respond to of 1956

Just taken from Briefing.com.. 10:55 ET ****** COMMAND SYSTEMS INC (CMND) 7 1/4 -7 1/4. It only took six weeks for subscribers to this mid-March IPO to lose half their money. To be more accurate, those who purchased these shares at $13 on the day of its initial public offering, have seen the value of their position lopped by 44%. But that is one of the risks one takes when getting involved with an IPO underwritten by some no-name outfit -- like Cowen & Co. That's right, this deal was managed by one of the most respected names in the hi-tech investment banking community. This morning, however, the firm is distancing itself from the information technology services company with a downgrade from "buy" to "neutral., " a rating issued just three weeks ago (accompanied by a 12-month price target of $24). Also stripping its bullish rating from the stock is co-underwriter Volpe Brown Whelan. Lowering the stock from "buy" to "neutral," Volpe said that though 1st qtr earnings came in slightly better than expected, numerous issues surfaced regarding the company's earnings outlook. Spooking the analysts were the company's forecast of "short-term variations in both revenue and earnings growth," due to the timing of necessary additional infrastructure investments relative to the commencement of new projects. Estimate revisions from Cowen and Volpe Brown were not immediately available. briefing.com DD