Robertson Stephens Reiterates Buy Rating on CBLT

6 January 2000

Robertson Stephens Reiterates Buy Rating on CBLT

    SAN FRANCISCO--Jan. 6, 2000--Robertson Stephens Senior Automotive Services Analyst Jordan Hymowitz today reiterated his Buy rating on the Cobalt Group, Inc. . Cobalt is a provider of fully integrated Internet automobile retailing solutions.
    We are reiterating our Buy rating and $50 price target on The Cobalt Group after the company announced the launch of Motorplace.com, a new business-to-business web portal for the automotive retailing industry," said Hymowitz. "In our opinion, this announcement is an indication of Cobalt's strategy going forward: to leverage its proprietary exclusive information network to provide eCommerce solutions to the largest eCommerce vertical."
    "We believe Cobalt could quickly become the defacto vertical portal for the automotive industry. More than 7,500 auto dealers or about a third of the dealers nationwide use one of Cobalt's services," said Hymowitz. "In the future, the company intends to host used equipment exchanges, wholesale dealer-to-dealer auctions, and add other business-to-business services to help dealers manage business more efficiently."
    Clients interested in receiving more information should contact their salesperson at 415/781-9700.
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