News

XO Marks The Spot

10/01/2000 8:00 PM Eastern

Robertson, Stephens Inc. reiterated a "buy" rating on broadband communications provider XO Communications Inc., formerly NextLink Communications, setting a price target of $55 per share. The investment bank said in a research report that XO's portfolio of fiber, fixed-wireless and digital-subscriber-line assets, coupled with strong management and solid financing, is "highly strategic." XO, trading as XOXO, has surged by more than 25 percent since last Monday, when the company said it would meet or beat Wall Street earnings estimates for the third quarter. XO closed at $35 on Sept. 27, up 6 cents.

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