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October 5, 2004 Stock Pick: Covad Communications Group, Inc. (COVD)

Stock Price: $1.67

Covad Communications Group, Inc. is a leading national provider of integrated voice and data communications. They offer DSL, Voice over IP, T1, Web hosting and managed security.

The company recently announced its nationwide offering of business-class VoIP services based on Cisco equipment. We believe Covad has one of the better VoIP networks on the market due to their past experience in communications compared to the new VoIP startups. They also plan on rolling out their service to 100 markets by the end of the year.

COVD has been bottoming at this level for over a week after bouncing off a lower level. We believe it will bounce again in the near future and continue to trend higher into the winter.

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