News

LodgeNet Has Room to Grow

2/03/2002 7:00 PM Eastern

UBS Warburg LLC media analyst Christopher Dixon raised his earnings estimates on LodgeNet Entertainment Corp., but downgraded the stock from "strong buy" to "buy" because it had already hit his intermediate price target of $17. Dixon raised his fourth-quarter cash-flow estimate to $16.5 million from $15 million, and upped his 2002 estimate from $72.9 million to $78.6 million, based on better-than-expected growth in the hotel business in the wake of the Sept. 11 attacks. Dixon also set a two-year price target of $27 for the stock. LodgeNet, which provides in-room video services to the hotel industry, closed at $18.14 on Jan. 30.

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