Stock Watch: Streamline.com Boosted by Coverage

Investors who are thinking about investing in an online grocer might want to take a look at little-known Streamline.com (Nasdaq: SLNE). Webvan is clearly the most-hyped name in this sector, but its stock is expensive. Peapod is also better-known than Streamline.com, but it recently announced potential financial difficulties.

Meanwhile, shares of Streamline.com rocketed nearly 30 percent on Tuesday, climbing 2-15/16 to 12-3/4 after Banc of America initiated coverage of the stock with a strong buy rating and a $27 price target. Banc of America praised the company’s “superior business model,” as well as its customer loyalty. Streamline.com, which currently serves the Washington D.C. and Boston areas, is an early-stage company with mounting losses, like many Internet companies. However, its current market value of less than $240 million gives its stock a lot of room to climb. Webvan, meanwhile, which currently serves the San Francisco Bay Area, is worth more than $6.6 billion.

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