Dain Rauscher Wessels analyst Jonathan Atkin initiated coverage of Time Warner Telecom Inc. (TWTC) with a "strong-buy" rating and a 12-month price target of $91 per share. Atkin wrote that although the price target represents 39.2 times TWTC's estimated 2000 revenue, compared with the industry average of 17.2 times, the premium is justified "because of TWTC's superior operating efficiencies, execution, focus and free-cash-flow characteristics." Atkin also said TWTC's "fiber-based network provides the highest transmission speeds available, making it well situated to pursue bandwidth-intensive product expansions that drive value, and not just commodity high-speed access, to customers."
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