Markets & Finance

CS First Boston Raises Outlook

CS First Boston raised its 2002 operating earnings estimates for Internet domain name registration company (RCOM)to $0.43 from $0.41. Analyst Suji De Silva said the company's reported second quarter earnings per share were roughly in line with estimates but that its operating earnings at $0.13 beat expectations by $0.04, thanks to lower than expected marketing costs.

The analyst cut fourth quarter 2001 revenue estimate to $28 million from $30 million to reflect a more conservative growth track. The analyst finds valuation relatively attractive, but is looking for re-acceleration of fundamentals before getting more aggressive. The stock is rated as a hold.

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