Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Kaufman Downgrades Findwhat.com to 'Hold'


Kaufman Brothers downgraded Findwhat.com (FWHT) to hold from buy.

Analyst Richard Fetyko says his checks indicate that the resolution of the eSpotting acquisition could take longer than he expected, putting additional burden on overhead costs, diluting management resources and a focus on core operations -- prolonging the stock overhang. He notes the company sees a partnership with Mitsui & Co. to pursuethe Japanese market as earnings-neutral in 2004; he thinks it's too early to bake into his model.

Fetyko maintains the 55 cents 2004 earnings per share estimate for the core business. He cut the $23 target to $20. Fetyko says he'd be more constructive at $16, where he believes the risk/reward trade-off is more compelling


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus