Donaldson, Lufkin & Jenrette Inc. analyst Todd Scott raised his revenue projections last week for Adelphia Business Solutions Inc. (ticker: ABIZ), the business-telephone arm of Adelphia Communications Corp., upping his price target for the stock to $92 per share from $85. Scott said a major contract from the state of Pennsylvania, coupled with accelerated rollout plans, was enough to amend his 2001 revenue projections for the company from $819 million to $916 million. Scott maintained his "Top Pick" rating on Adelphia Business. "We believe the company's increased focus on data services emphasizes the company's time-to-market advantage and increases long-term shareholder value," he wrote.
MOST READ
