CIBC World Markets issues investment opinion on GRIC; Reiterates Strong Buy.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company NEW YORK--(BUSINESS WIRE)--March 29, 2000 CIBC analyst Martin Pyykkonen reiterates Strong Buy rating on GRIC GRIC Global Reach Internet Connection GRIC Government Relations Institute of Canada (industry association) . Company is on track for 1QE $(0.36) vs $(0.55) with revenue of $4.78M. In terms of catalysts, we expect AOL and NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. over the next few months to be discussing services offerings which can positively influence the outlook for GRIC. Each of these involves GRIC's settlement services for Internet roaming services, which have a higher gross margin than VOIP services, and which we feel distinguish GRIC as a key part of our Internet infrastructure theme. Price target $75-$80, 60X '00 revenue E $24.9M. IMPORTANT NOTICE TO RECIPIENTS Any information or data provided in this message has been obtained from sources we believe to be reliable, but we do not guarantee its accuracy or completeness. Such information reflects current market conditions, is subject to change without notice and should not be relied upon for tax purposes. Any transactional details are provided at your request and do not supersede your normal trade confirmations or monthly statements. Any product recommended is subject to prior sale. CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Corp., its affiliated companies, and /or their officers, directors or employees, may at times have a position in or make a market in any security described above, and/or may act as an investment banker or advisor to any company referenced. Although CIBC World Markets Corp. is an indirect, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce TSX: CM NYSE: CM, better known to most customers as CIBC, is one of Canada's major banks. CIBC is classified as a Domestic Chartered Bank (Schedule I). ("CIBC"), it is solely responsible for its contractual obligations and commitments, and any securities products offered or recommended or purchased or sold in any client accounts (i) will not be insured by the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. , (ii) will not be deposits or other obligations of CIBC, (iii) will not be endorsed or guaranteed by CIBC, and (iv) will be subject to investment risks, including possible loss of principal invested. |
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