NEW YORK, April 18, 2002 (PRIMEZONE) -- World Financial Capital Markets, an investment boutique specializing in the underwriting of public and privately held securities, is pleased to announce that it has commenced analytical coverage of Cedar Knolls, New Jersey-based MediaBay, Inc. with a strong buy rating and a 12-month target of $10. MediaBay, with shares traded on the Nasdaq National Market under the ticker MBAY, is a dominant provider of spoken audio and nostalgia products, including audio books and classic radio shows.
Full details of our analysis will be released intra-day on Apr. 19.
Safe Harbor Statement:
Except for historical information contained herein, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product volatility, product demand, market competition and risk inherent in the companies operations. Information herein contains or incorporates by reference "forward-looking statements," including certain information with respect to plans and strategies of the featured company.
About World Financial Capital Markets:
World Financial Capital Markets Inc. is a New York-based investment boutique and chartered member of the National Association of Securities Dealers and Securities Investor Protection Corporation. The firm's main goal has been to engage in the business of investment banking, analytical research, underwriting and broaden its horizon from retail brokerage clients towards institutional clientele.