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Wit Soundview Raises Terra Lycos to 'Buy'

Wit Soundview upgraded Terra Lycos (TRLY) to buy from hold.

Analyst Lisa Haas says she has identified several catalysts that could lead to a near-term upside in the stock. She thinks the company could be exiting non-profitable markets and instigating new fiscal discipline to its international properties. Measures are expected to be undertaken by year end.

Haas now believes Terra Lycos will reach EBITDA breakeven by Q2 2002, up from previous mid-2003 date. She narrowed the $106 million 2002 EBITDA loss estimate to a $39 million loss, as she has forecasted the company can reduce its operating costs by as much as $40 million per quarter.

Haas upgraded her rating on the belief that upside is more likely than further downside from the current levels. She raised her target to $9.

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