Dixon Likes AOL 8, Keeps 'Strong Buy'

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UBS Warburg media analyst Chris Dixon has tried AOL 8.0 — the new version of America Online — and finds it "a marked improvement" that should allay some fears about AOL "members" defecting after they get broadband hook-ups. He thinks it could be time to "build positions" in AOL Time Warner Inc. (price target: $19; Oct. 16 closing price: $12.20) amid volatility resulting from Microsoft Network's new MSN 8, "ongoing negative press" and concerns about previously disclosed Securities and Exchange Commission investigations into some AOL accounting practices.

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