[May 12, 2005] Dutton Associates Announces Investment Opinion: Internet Gold Buy Rating and Price Target Maintained by Dutton Associates Tweet EL DORADO HILLS, Calif. --(Business Wire)-- May 12, 2005 -- Dutton Associates updates its coverage of Internet Gold (Nasdaq:IGLD) maintaining a Buy rating and its price target of $9.50. The 7-page report by Dutton senior analyst Rafael Kapelinski is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, and other leading financial portals. Internet Gold reported another very strong quarter. Revenues were significantly better than expected, primarily on the back of the impressive performance in the Internet telephony business. The operating profit and EPS were slightly below our forecast, which, in our view, was clearly a function of the greater revenue contribution from the lower-margin telephony business. The bottom line is that the Company continues to execute on the strategy of diversifying the revenue footprint away from access, which is positive, in our view, especially as dial-up to broadband migration in Israel is virtually over. Also, following the recent capital increase, the Company has the resources to play an active role in the imminent consolidation of the Israeli ISP market. We reiterate our Buy rating and a price target of $9.50. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 27 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 95 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $33,000 prepaid before commencement of our research activities, consisting of 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $42,000 from the Company for 6 Research Reports with coverage commencing on 6/17/2004. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing. [ Back To TMCnet.com's Homepage ]