BancBoston Robertson Stephens Comments on AN's Price Increase.SAN FRANCISCO--(BUSINESS WIRE)--Sept. 8, 1999-- BancBoston Robertson Stephens senior automotive analyst Jordan Hymowitz today commented on National Car Rental's (NYSE NYSE See: New York Stock Exchange :AN) price increase. National Car Rental announced this morning that it will raise rates across the board effective mid-October. "With this rate increase, we believe that National's new management team is moving away from its old strategy of attempting to maximize market share, while undercutting prices," said Hymowitz. "In our view, National's previous strategy, forced competitors to match the lower prices, rather than allowing market share to diminish," said Hymowitz. "We believe this downward spiral only leads to an unchanged market share pie, with industry pricing that is much lower." "We believe the major beneficiary beneficiary Person or entity (e.g., a charity or estate) that receives a benefit from something (e.g., a trust, life-insurance policy, or contract). A primary beneficiary receives proceeds from a trust or insurance policy before any other. of National's strategy shift will be Hertz's stock, as the company will now begin moving prices upward, rather than attempting to maintain market share," said Hymowitz. Clients interested in receiving more information should contact their salesperson at (415) 781-9700. BancBoston Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies. For the first half of 1999, the firm completed over 100 offerings, raising more than $15 billion in capital for clients and is the leading investment bank for Internet M&A transactions. The firm's 45 research analysts cover nearly 700 companies. Founded in 1978, BancBoston Robertson Stephens is the section 20 subsidiary of BankBoston Corporation (NYSE: BKB BKB Basler Kantonalbank (Switzerland) BKB Black King Bar (gaming weapon) BKB BV Kwaliteitsverklaringen Bouw (Dutch) BKB BankBoston Corporation ). Together, BancBoston Robertson Stephens, BancBoston Robertson Stephens International, and Evergreen evergreen, term commonly used as synonymous with conifer and applied also to all those broad-leaved plants that bear green leaves throughout the year. Of the latter, most are plants of the tropics, subtropics, and other areas where the growing season is prolonged (e. Securities Ltd. employ 1,000 employees throughout the world with offices in Boston, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Chicago, London, and Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest . For more information about the firm, please visit our Web site at www.rsco.com. The following synopsis A summary; a brief statement, less than the whole. A synopsis is a condensation of something—for example, a synopsis of a trial record. is qualified in its entirety by the more detailed information contained in the full research report, including the discussion of certain risks associated with an investment in this security contained in "Investment Risks." The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in "Investment Risks." 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BancBoston Robertson Stephens, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested. |
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