Dain Rauscher Wessels Initiates Coverage of Vyyo With a Strong Buy Rating.Business Editors & Analysts NOTE TO EDITORS: The following is an investment opinion issued by Dain Rauscher. MINNEAPOLIS--(BUSINESS WIRE)--May 1, 2000 Dain Rauscher Wessels equity analyst Jim Moeller Jim Moeller (b. 1955) is an American politician from Washington State, who serves in the Washington State House of Representatives representing the 49th Legislative District. today initiated coverage of Vyyo Inc. (Nasdaq:VYYO), $21.12, with a Strong Buy-Aggressive Risk rating. Moeller set a six-month price target at $36 for Vyyo. Vyyo is an emerging leader in providing broadband wireless See wireless broadband. access systems used by communications service providers to deliver wireless, high-speed data connections to business and residential subscribers. "Vyyo has leveraged its cable technology expertise into providing leading solutions in a timely manner to the MMDS (Multichannel Multipoint Distribution Service or Microwave Multipoint Distribution Service) A digital wireless transmission system that works in the 2.2-2.4 GHz range. and LMDS (Local Multipoint Distribution Service) A digital wireless transmission system that works in the 28 GHz range in the U.S. and 24-40 GHz overseas. It requires line of sight between transmitter and receiving antenna, which can be from one to four miles apart markets," Moeller said in a research note. "For Vyyo, the MMDS market in particular looks to be at a significant inflection point Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. . "With the 1998 FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. rule change in the MMDS band (that allowed two-way data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. ) and the spectrum acquisitions by large telecommunications competitors like Sprint and MCI/WorldCom, the MMDS market is now poised for an unprecedented equipment and service rollout. We believe there could possibly be upward of $1 billion spent on MMDS technology during the next 18 to 36 months. Vyyo currently derives approximately 75 percent of its revenue from the MMDS market, approximately 12 percent of its revenue from the LMDS market and approximately 13 percent from the cable set-top box/cable modem market. Going forward, we believe Vyyo will focus exclusively on wireless solutions and have a long-term business split of 75 percent/25 percent for MMDS/LMDS, respectively." Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving Moeller's report on Vyyo should call 612-371-7752. The Dain Rauscher Wessels division includes equity research, equity trading, institutional equity sales and corporate finance. The division's 38 analysts focus on five industries: consumer, energy, services, health care and technology. Currently, the analysts follow more than 400 companies. The division, which employs 350 people, has offices in Austin, Texas; Boston; Chicago; Dallas; Houston; Menlo Park, Calif.; Minneapolis; New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; San Francisco; Seattle; and Tel Aviv, Israel(a). Minneapolis-based Dain Rauscher Incorporated provides investment services to individual investors and small businesses through offices in 26 predominantly western states, investment banking services to corporations and municipalities nationwide, and trade clearing and settlement services to non-affiliated broker-dealers throughout the United States and abroad. Dain Rauscher Incorporated, one of the nation's largest full-service securities firms, is a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and other major securities exchanges, as well as the Securities Investor Protection Corp. Dain Rauscher Corporation, its holding company, trades on the New York Stock Exchange under the symbol DRC DRC Democratic Republic of Congo DRC Down (Stage) Right Center DRC Director(ate) of Reserve Components DRC Disability Rights Commission (United Kingdom) . The company's headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St. Dain Rauscher Inc. managed or co-managed a public offering of the securities of Vyyo within the past three years. Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI See Digital Research. , its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. (a) Strategic alliance with Tamir Fishman & Co. |
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