To: DAVID C. DeANGELIS who wrote (8 ) 1/13/1999 5:54:00 PM From: Jimbo Cobb Read Replies (1) | Respond to of 954
INDI is the best way to play the CBS Marketwatch.COM IPO, in my opinion...I bought DBCC at $6-$8 range and rode it up, but I've dumped it all and bought INDI now...INDI is the cheap and easy way to play the CBS Marketwatch.COM IPO... Individual Investor Shares Jump After Analyst Says Stock Undervalued Dow Jones Online News, Monday, January 11, 1999 at 18:00 By Brian Steinberg, Staff Reporter NEW YORK -(Dow Jones)- Shares of Individual Investor Group Inc. surged Monday after an analyst at Southeast Research Partners upgraded his rating on the stock. Barry King said he changed his rating to "buy" from "hold," and set a price target of $8 to $10 a share for the New York business publisher. "The stock is undervalued," the Southeast analyst said. King said he believed Individual Investor's print publications are worth $5 to $7 a share, and the company's Internet ventures could generate $2 million in revenue or more within a year's time. Currently, King said, the Internet operations generate about $1 million in revenue. And, the analyst said, an IPO scheduled for Marketwatch.com Inc. later this week could give Individual Investor shares even more value. "That company has a revenue base very similar to Individual Investor," King said. "Its revenues are about five times those Individual Investor has been generating." Should Marketwatch increase in value, King said, that could establish a higher value for Individual Investor. Shares of Individual Investor (INDI) ended the day at $7.125, up $2.25, or 46%, on Nasdaq volume of 858,000, compared with the daily average of just 70,500. Earlier, the shares traded as high as 7 7/16, up 52.5% from Friday's close and near the 52-week high of 7 5/8 set March 12, 1998. - Brian Steinberg; 201-938-5218; brian.steinberg@cor.dowjones.com Copyright (c) 1999 Dow Jones & Company, Inc. All Rights Reserved.