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Get Four
|  | APRIL 19, 2004
 WORD ON THE STREET Piper Jaffray Ups Ask Jeeves to Outperform Analyst Safa Rashtchy says the search engine firm's 2005 earnings estimates are very likely to increase Piper Jaffray upgraded Ask Jeeves (ASKJ ) to outperform from market perform. Analyst Safa Rashtchy says Ask Jeeves has gained a strong negotiating position vis-a-vis paid search providers. He says the acquisition of Interactive Search Holdings is likely to introduce a number of new initiatives. He notes Ask Jeeves has strong momentum in traffic, and says 2005 estimates are very likely to increase. Rashtchy raised the $40 target to $45 based on shares trading at 28 times his 2005 estimated EBITDA. He says he would buy the stock ahead of its first-quarter earnings release Tuesday. He sees additional upside to a Mar. 4 pre-release, as his analysis of search traffic suggests that Ask Jeeves, with 19% sequential growth from the fourth quarter, grew faster than Yahoo's 13%.  All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report. Standard & Poor's Regulatory Disclosure Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.
BW MALL
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