Comcast Deal Drives United
Morgan Stanley analyst Todd Scott initiated coverage of Internet-service provider United Online Inc. with a "overweight" rating and a year-end 2003 price target of $18, fueled by the company's recent agreement to provide service over Comcast Corp.'s high-speed data network. United Online, which provides service under the NetZero and Juno names, has 1.6 million paid subscribers and 3.3 million free dial-up customers. United launched high-speed service over Comcast's network in Nashville, Tenn., and Indianapolis in May. United will resell the Comcast service, and the MSO assumes all operating costs.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.