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SPORTSLINE A NASDAQ MOVER AS IT KEEPS ITS EYE ON THE BALL
Published January 9, 1998
Shares in SportsLine USA "jumped" 26% on Thursday, closing at $17.125, following a "favorable recommendation from a Wall Street analyst," according to Thomas Granahan of the DOW JONES NEWS SERVICE. BancAmerica Robertson Stephens & Co. analyst Keith Benjamin said that he "expects SportsLine to be the best performing stock in the Internet group in the first quarter of this year" and that CBS' promotion of SportsLine during its Winter Olympics coverage "will significantly boost the company's audience size." CBS will give SportsLine $11M worth of on-air promotion in '98. Benjamin: "We believe this value may actually be received just during the first quarter, combining the Winter Olympics and NCAA basketball." Benjamin rated the stock a "buy" with a target price of $35 (DOW JONES, 1/9). On "NBR," Paul Kangas noted SportsLine USA as a "Big Mover" (PBS, 1/8).