¶ THTH: Thinkpath, Inc. Announces Investment Opinion: KSH Investment Group Reiterates ``Buy'' Rating On Thinkpath With a Six Month Price Target of $3.00
NOTE TO EDITORS: The following is an investment opinion issued
by Thinkpath, Inc.
NEW YORK--(BUSINESS WIRE)--July 10, 2001--KSH Investment Group,
Inc. has reiterated its "BUY" rating on Thinkpath, Inc. (Nasdaq:THTH)
in a 20-page report just released on the company.
In his report, analyst Leonard Bogner stated, "Thinkpath's
financial outlook is extremely favorable and key markets are growing.
We see revenues expanding at a compound annual growth rate (CAGR) of
25% during the next five years while net income climbs at CAGR of 50%.
Based on our projections, we believe Thinkpath could be generating
revenues of $75 million and earnings of $6 million, or $0.35 per fully
diluted share, by 2003 and could have sales of approximately $125
million by mid-decade and net earnings of $15 million, or $0.85 per
fully diluted share."
"In light of the company's positive prospects and, in our view,
under-appreciated value, we rate the stock a `BUY'. Based on our
valuation benchmarks, we believe THTH's shares could be trading at
$3.00-$3.25 by the end of 2001 and reach $4.00-$5.00 during 2002."
About Thinkpath Inc.
--------------------
Thinkpath is a provider of IT & engineering services, offering a
blended suite of outsourcing, recruiting, training and technology to
enhance the resource performance of large and high-growth
corporations. Thinkpath clients include Microsoft, General Motors,
Goldman Sachs, General Electric, Cummins and EDS Canada. Thinkpath has
500 employees in 18 offices across North America. Further information
about the company, its services and products can be found at
www.thinkpath.com.
This press release contains certain forward-looking statements
regarding Thinkpath Inc., its business prospects and results of
operations that are subject to certain risks and uncertainties posed
by many factors and events that could cause Thinkpath's actual
business, prospects and results of operations to differ materially
from those that may be anticipated by such forward-looking statements.
Readers are urged to carefully review and consider the various
disclosures made by Thinkpath in this news release and other reports
filed with the Securities and Exchange Commission that attempt to
advise interested parties of the risks and factors that may affect
Thinkpath's business.
Any recommendation contained in this report may not be suitable
for all investors. This memorandum is for informational purposes only.
Under no circumstances is it to be interpreted as an offer to buy, or
a solicitation to sell any security. While the information contained
herein has been obtained from sources believed to be reliable, its
accuracy and completeness cannot be guaranteed. Although opinions and
estimates expressed herein reflect the current judgment of KSH, the
information upon which such opinions and estimates are based is not
necessarily updated on a regular basis; when it is, the date of the
change in estimate will be noted. In addition, opinions and estimates
are subject to change without notice. This Report contains
forward-looking statements, which involve risks and uncertainties.
Actual results may differ significantly from the results described in
the forward-looking statements. KSH Investment Group, Inc. may at
times, effect transactions, including transactions contrary to any
recommendations herein, or have positions in the securities mentioned
herein (or options or warrants with respect thereto) and may also have
performed investment banking services for the issuers of such
securities. In addition, employees or officers of KSH Investment
Group, Inc. may have positions and effect transactions in the
securities, options, or warrants of the issuers mentioned herein and
may serve as directors of such issuers.
--30--jsw/clv*
CONTACT: The Del Mar Consulting Group, Inc.
Robert B. Prag, 858/794-9500
bprag@delmarconsulting.com
or
KSH Investment Group, 516/466-1117
