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Friday October 27, 9:23 am Eastern Time Press Release SOURCE: First Security Van Kasper First Security Van Kasper Initiating Coverage on InfoSpace, Inc. With Buy Rating SAN FRANCISCO, Oct. 27 /PRNewswire/ -- The following is being issued by First Security Van Kasper, a member of the National Association of Securities Dealers, CRD number 7665: Jennifer Jordan, Internet analyst at FS Van Kasper, is initiating coverage on InfoSpace, Inc. (Nasdaq: INSP - news; $20 11/16) with a Buy rating and a near-term price target of $32. Below are direct quotations from Ms. Jordan`s initiation report: We are initiating coverage on InfoSpace, Inc. with a Buy rating and a near-term price target of $32. Founded in April 1996, InfoSpace is an international information infrastructure services company. InfoSpace has four major, inter-related platform service businesses: wireless, wireline, merchant, and broadband. The company provides commerce, information and communication infrastructure services. The company currently dominates the market for wireless Internet platform services, having signed 88% of the current wireless carriers. We believe that management has demonstrated the ability to execute ahead of expectations across all segments of its business. In particular, we are excited about powerful consumer trends that are driving the growth of the company`s domestic and international wireless services effort and the depth of its penetration among wireless carriers. Through its recent merger with Go2Net, Inc., InfoSpace will offer private-labeled broadband wired (DSL and cable) and broadband wireless (2.5G and 3G) services such as interactive gaming, television and other entertainment services. This would make InfoSpace the first company to offer Internet infrastructure services across all major delivery platforms and devices. Based on the diversity and strength of InfoSpace`s product offerings and the extremely rapid growth that is anticipated in the targeted wireless Internet market, we assign the company`s shares a premium price-to-sales multiple relative to its peers. While the peer group is currently trading at 26x CY01 sales estimates, we think that InfoSpace has the potential to trade at 30x our CY01 sales estimate of $360.7 million, which gives us a near-term price target of about $32. ------------------ Yours digitally KiKo |
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| aus der Diskussion: | ** INFOSPACE ** INSP 917694 Research Teil1; Start 2.9.00 |
| Autor (Datum des Eintrages): | KiKo (27.10.00 15:35:55) |
| Beitrag: | 23 von 41 (ID:2196600) |
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