Markets & Finance

Goldman Adds Exodus Communications to Its Recommended List

Goldman added Exodus Communications (EXDS) to its recommended list as it continues to view the Internet system company as a top long-term Internet infrastructure prospect. The stock was up 2-5/16 at 20-5/16.

Analyst Matthew Janiga says the company closed its acquisition of GlobalCenter acquisition. He also says he is reissuing estimates on the company with $36 million fourth quarter EBITDA (earnings before interest, taxes, depreciation and amortization) on $279 million revenues. For 2001, EBITDA is seen at $352 million on $1.8 billion in revenues.

Janiga says the company has yet to feel the effects of depressed spending and more tempered information technology spending so he takes a conservative approach to 2001 forecast. For 2001, he sees a $0.46 per share loss.

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