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Deutsche Bank cracks down on overvalued ISPs

By Suzanna Kerridge

Published: Friday 18 August 2000

Deutsche Bank has begun to track the market performance of certain European ISP shares after criticising the market for overvaluing internet stocks.

The German bank will rate T-Online, Wanadoo, Lycos Europe, Liberty Surf and Freeserve.

In a statement, the bank said Freeserve.de and Lycos Europe stood out as "stocks with upside potential" but warned that many ISPs - including Wanadoo, T-Online and Terra Networks - were overvalued by as much as 30 per cent and were trading above a fair valuation price.

Deutsche Bank has given a performance target of E19 (£11.50) for T-Online, E11 (£6.65) for Lycos Europe, E32 (£19.37) for Liberty Surf and £2.40 for Freeserve.