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To: DepyDog who wrote (18935)	5/27/1999 1:51:00 PM
From: Roy F	Respond to of 41369

FOCUS-BancBoston, Goldman say Internets near bottom May 27, 1999 12:48 PM By Ian Simpson NEW YORK, May 27 (Reuters) - The battered Internet sector may be close to bottoming out, BancBoston Robertson Stephens and Goldman Sachs analysts said on Thursday. They said the selloff was a good chance for investors to start buying up shares in the mercurial sector. Internet shares, one-time Wall Street darlings, have fallen sharply in the last month. They have been pressured in part by fears of higher interest rates, signs of stagnating use, lack of profits at many companies and pricey valuations. The American Stock Exchange's 50-share Internet index is off almost 20 percent since late April. "While we recognize that concerns over summer seasonality and interest-rate fluctuations may continue to cause volatility over the coming days, we believe the recent selloff is overdone," Goldman Sachs analyst Michael Parekh said in a report. Internet shares were likely to be boosted by such catalysts as strong second-quarter results, continued consolidation and strong growth in electronic commerce. "This selloff represents an opportunity to build further positions in leadership names," Parekh said. Among his stock picks were service provider America Online Inc. AOL , Web auctioneer eBay Inc. EBAY and advertiser DoubleClick Inc. DCLK . BancBoston Robertson Stephens analyst Keith Benjamin said many investors seemed to have abandoned Internets, "demonstrating capitulation that defines the bottom. "While it is almost impossible to pinpoint the exact day of defeat, we believe we are close enough to start becoming more aggressive, accumulating a broader range of stocks." In a report, Benjamin said second-quarter results could propel the group higher. He recommended such major names as retailer Amazon.com Inc. AMZN , eBay, portal Lycos Inc. LCOS , TicketMaster Online-CitySearch TMCS and service provider Yahoo! Inc. YHOO . Other picks included "larger, unseasoned stocks," like Gemstar International Group Ltd. GMST , Internet name registrar Network Solutions Inc. NSOL and Web commerce company Priceline.com Inc. PCLN . Shares of AOL were down 3-3/16 to 117-1/8 early Thursday afternoon on the New York Stock Exchange. eBay stock was down 3-11/16 to 170-5/8, DoubleClick fell 1-1/2 to 88-3/4, Amazon.com slid 5-7/16 to 115-1/2, Lycos dropped 2-3/16 to 99-13/16, and Yahoo slipped 5-3/8 to 135-1/2, all on Nasdaq. In contrast, the stock of TicketMaster Online-CitySearch waas up 1-3/8 at 29-1/8. ((--Ian Simpson, New York Technology Desk, (212) 859-1879)) REUTERS