Access 1 Financial Issues Strong Buy Recommendation on Fidelity Holdings, Inc.Business &Technology Editors NEW YORK--(BUSINESS WIRE)--Feb. 8, 2000 Fidelity Holdings, Inc. (Nasdaq:FDHG), a comprehensive holding company with technology and automotive divisions, today reported that California-based Access 1 Financial initiated coverage of the Company with a strong buy recommendation and a 12 month price target of $37.75 per share. The Company recently announced that it would retain, continue to develop and strongly support its technology division, Computer Business Sciences, Inc., and particularly its multimedia telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. subsidiary IG2, Inc. The initial coverage of Fidelity Holdings by Access 1 Financial noted that the Company is &uot;in a unique position to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the tremendous growth of the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and advanced, high-bandwidth telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. in all of its subsidiary operations.&uot; The report continued: &uot;The internal synergies, namely in exchange of technologies and Internet services, between Fidelity companies results in mutual benefits. Recent acquisitions, such as that of CarsTV.Com and ongoing developments with IG2 and Info Systems complement the aggregate corporate structure. Current and future holdings will continue to benefit from these strong internal ties.&uot; The report also stated that the future growth of Fidelity Holdings &uot;should be driven by four primary factors: (1) capitalizing on the high growth potentials of the Internet and telecommunications industries as the fundamental basis for all of its varied operations; (2) continuing its aggressive model of growth through acquisition and improvement; (3) increasing the degree of internal synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. between subsidiaries through the Internet and telecommunications technologies; and (4) maintaining independent and solvent solvent, constituent of a solution that acts as a dissolving agent. In solutions of solids or gases in a liquid, the liquid is the solvent. In all other solutions (i.e. revenue streams in its subsidiary operations . . . We recommend the accumulation of its shares for risk-oriented investors interested in supporting a well-managed and lucrative company, and predict that Fidelity Holdings, Inc. will likely meet or exceed our 12-month mid-range
For a complete copy of the strong buy recommendation on Fidelity Holdings, Inc. please contact Access 1 directly at 310-581-7997. Fidelity Holdings is a diversified diversified (di·verˑ·s holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. . The Company operates two divisions -- Automotive and Technology. The Automotive Division operates through Major Automotive Group, a leading consolidator of automotive dealerships in the New York Metropolitan Area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . The Technology Division operates through Computer Business Sciences, its IG2, Inc. subsidiary and its Info Systems, Inc. subsidiary. Access 1 Financial is not affiliated with Fidelity Holdings, Inc. and has received compensation from Fidelity Holdings in issuing this report. This report by Access 1 Financial has not been issued or endorsed by the Company. For additional information, visit our website at www.fdhg.com, www.majorautomotive.com and www.majorworld.com. The information contained in this press release, including any &uot;forward-looking statements&uot; within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion