Good coverage in this AM's Financial POST. Strong buy signal from Ralph Garcea @ Scotia Capital and higher targets.
Tuesday, December 21, 1999
New deal helps boost Certicom
Stephen Miles
Financial Post, with files from news services
Certicom Corp. (CIC/TSE), up $1.35 to $57.35, on volume of 83,116 shares.
Shares of the encryption technology company advanced yesterday on the back of positive comments from an analyst and the signing of a new licensing deal.
Ralph Garcea, an analyst at Scotia Capital Inc., raised his 12-month target price on the stock to $72, from $60. He lifted his two-year target to $81, from $72.
Mr. Garcea, who has a "buy" rating on the shares, said the wireless data market continues to gain momentum as it goes mainstream, providing Certicom with a validation of its technology.
Certicom also said yesterday it had licensed its encryption technology for use in Puma Technology Inc.'s Internet-based synchronization service, Intellisync.com.
Intellisync.com, scheduled for a first-quarter 2000 launch, would allow those with Internet access to keep popular personal computer applications, mobile devices and Web-based content and services synchronized on one free, central address on the Internet. Terms of the agreement were not disclosed.
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More of this sure to come.
Rondo |
