Markets & Finance

CS First Boston Recommends Buying PurchasePro Shares

CS First Boston reiterated its strong buy on shares of PurchasePro (PPRO).

Analyst Ian Toll says Q4 results are due out Monday after the market closes. He expects another strong release driven by 70% sequential revenue growth and good cost discipline. Toll sees $0.01 cash Q4 EPS on $29.5 million in revenues, with a probable upside. The analyst says PurchasePro remains highly controversial, having been cut nearly in half last week following a critical article in Barron's about an apparently groundless lawsuit filed against the company.

He looks for three factors to tell in 2001 whether the company can prove its model is going to work long term: usage metrics, revenue potential of AOL and the number of PurchasePro marketplaces sold by channel partners.

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