Stock Watch: Another $100 Target for CNET

Shares of online technology network CNET (Nasdaq: CNET), which is expanding its e-commerce presence with the acquisition of comparison-shopping service mySimon, gained 3-1/12 to 66-5/16 in early trading today. The rise came after CS First Boston raised its rating on CNET to strong buy and gave the stock a $100 price target.

CNET also received a strong buy rating and $100 price target from WR Hambrecht + Co. on Monday. Goldman Sachs upgraded CNET on Thursday and put the stock on its recommended list.

It has been a busy week for CNET. Thursday, the company announced the launch of a Windows 2000 Superguide that features information about whether or not computer users should upgrade. On Wednesday, CNET announced that it has expanded its relationship with Internet telephony provider PhoneFree.com, and Tuesday, CNET announced an alliance with software distributor Ingram Micro. The companies will work together to service business-to-business (B2B) resellers of computer products.

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