May 12, 2006
SpeculatingStocks.com Stock Pick: Covad Communications Group, Inc. (DVW)
Stock Price: $1.89 (short-term strong buy)
Covad Communications Group, Inc. is a nationwide provider of broadband voice and data communications. They offer DSL, Voice over IP, T1, Web hosting and managed security.
DVW reported earnings after the bell on Thursday, April 27th, the next day DVW hit a new 52-wk high of $2.72. DVW has since fallen and is now beginning to bottom, but looks ready to reverse and trend higher from its current price.
DVW has narrowed its losses from $112.302 million in 2003 to $60.76 million in 2004 to a loss of only $15.72 million in 2005. The company's revenue has grown each of those years to over $443.17 million in 2005. Q1 losses were also narrowed over the same period last year.
SpeculatingStocks.com Target Price: We expect DVW to reach $2.70 within the next 15 - 30 days.