>The $1 price target is actually Trader Dave's ...
ooo, them's fightin' words!
well, if you're gonna blame someone, point your middle finger at me. i'm the clown who turned him on to comverse in the first place (over at the vitesse board). did he scoff at something else besides 18% revenue growth?
(you two been playing private message footsie?)
>Kobi is holding on to that wallet full O'cash tighter than a tourist in Times Square would.
>Fairly insignificant deal I suppose as I have not gotten even one phone call from sell side people. Not even Nutmeg securities.
well, NN, i gotta admit that i get -- at minimum -- one hearty chuckle out of each of your posts. if you ever step out of gotham for a spell and brave south of the mason-dixon, you're guaranteed at least one tall cold one on me. and if you catch me in a good mood, i'll even spring for a couple of jello shooters.
not to worry, no california spring water in these shooters -- made from the finest DC tap.
see below for excerpts from tim luke's latest effort. according to him, earnings out around the ides of march.
notsurebutyoupro'lyalreadyknewthat,
-chris.
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Comverse Tech: Continues To See Robust Trends, Expect Strong 4Q98, Reit Buy
Author: Tim Luke 1(212) 526-4993
Rating: 1
Company: CMVT
Price Target (Old): $85-90
Price Target (New): $85-90
Today's Date : 02/22/99
* Recent discussions with management and our checks with a number of
Comverse's operator customers lead us to believe the global voicemail and enhanced services leader is continuing to enjoy robust demand trends in the current quarter.
* Comverse is likely to deliver strong fourth-quarter (ended January 31) results when it reports the week of March 15. We believe Comverse is likely to exceed our consensus level estimates of $188.5 million in revenues and $0.63 in EPS.
* In addition, Comverse is likely to confirm backlog has risen from the third-quarter record level of $155 million, providing excellent visibility through the current first quarter and into the balance of the year.
* Beyond continued strength in North America and Europe from wireless and wireline customers, its appear Asian sales may also be experienced a modest pickup. Rollout of new products such as one-touch call return (at accounts such as Sprint) and prepaid wireless service (10 new customers in calendar 1999) appears to be gaining momentum.
* With the shares coming under pressure in recent sessions, we are reiterating our 1-Buy rating based on our confidence in Comverse comfortably meeting or exceeding our projections over the next 12 months. Our price target is $85-$90, or just 25-27 times our conservative fiscal 2000 EPS estimate of $3.32.
lehman.com |
