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Stock Watch: Modem Media Flies High on Analyst Recommendation

By Nora Macaluso
May 12, 2000 12:00 AM PT

Modem Media (Nasdaq: MMPT) gained 1 7/8 to 14 1/2 Thursday after First Union Securities began coverage of the stock with a buy rating and a 12-month price target of $30.

Stock Watch: Modem Media Flies High on Analyst Recommendation

The firm is looking for the Internet advertiser to post a loss of 8 cents a share for the current fiscal year, followed by net income of 32 cents a share in 2001.

Modem Media saw first-quarter revenue rise 130 percent, powered by strong spending by new and existing customers.

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It's critical to the entire economy, and everyone should share the cost.
If rural residents really want high-speed Internet, they should foot the bill.
Internet providers will benefit -- they should build out their own networks.
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Providers should improve broadband services in heavily populated areas first.