Volpe Brown Whelan & Co.
initiated coverage of online ad company DoubleClick Inc. with a “buy” rating
and a $250 target stock price.
DoubleClick stock closed Tuesday at TKTKTK.
VPN e-marketing analyst Richard Petersen said DoubleClick “is the leading
Internet advertising network and a core e-marketing company.”
“We are initiating coverage of DoubleClick with a Buy rating because of its
leading position in the e-marketing sector,” said Petersen. “DoubleClick’s
recent acquisitions of Abacus Direct and NetGravity, combined with its new
product development, are positioning the company as a leading provider of
enabling technology and services for Internet advertising.”
“Advertisers will spend more than $10 billion on the Internet by 2002
according to Forrester Research,” said Petersen, “and DoubleClick will be
both a key driver and beneficiary of the exploding growth of Internet
advertising.”
Volpe Brown Whelan & Company is an investment bank focused exclusively on
technology and health care. Since 1992, it has managed or co-managed more
than 220 public offerings, raising more than $11.9 billion and has advised
clients on more than 70 merger and acquisition transactions with an aggregate
value of more than $8 billion.