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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Witold who wrote (77130)	5/27/1999 11:50:00 PM
From: EricE	Respond to of 119973

(ABOV) a STRONG BUY with a price target of $71 From today's Internet Stock News: Volpe Whelan Brown rates the shares of ABOVENET COMMUNICATIONS (ABOV) a STRONG BUY with a price target of $71. The company, which has a market capitalization of $1.1 billion, on May 24 announced the acquisition of PALO ALTO INTERNET EXCHANGE from COMPAQ COMPUTER (CPQ) for $70 million in cash and $5 million in services. PAIX is one of only a dozen major Internet exchanges in the United States, and as a result of its acquisition, the brokerage expects that a significant share of U.S. Internet traffic will now flow through ABOVENET. Because of the acquisition, the brokerage raised its revenue estimates to $57.7 million from $47.1 million for 2000 and $144.5 million from $118.5 million for 2001. For 1999, the company is forecast to post a loss of $4.91 per share. However, that is expected to decline to a loss of $2.10 per share for 2000.