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The whole report is worth reading. You can find it at
http://www.multexinvestor.com/
Search for CYCH in the ticker box, obviously. You will have to either join, or log in, to view the four page report.

Highlights:
-"Cybercash is firing on all cylinders."
-Transactions for Jan/Feb are remaining at holiday levels.
-If this continues, they see the break-even point moving up, possible as early as late 2000.
-Seasonality in transaction volumes may no longer be a problem as Cych has diversified its base enough to compensate.
-They believe Cych would be a good aquisition target, and then go into explanation of the Street's disdain for CYCH.

Merenbloom has not raised the target price (1 year, $17, which equals 15x revenues), but he has actually used an exclamation point in this report. I don't think analysts are usually this excitable!
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