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Technology Stocks : audiocodes ltd. (AUDC)
AUDC 9.272+0.5%Nov 7 9:30 AM EST
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To: Michael F. Donadio who wrote (2)9/16/1999 1:49:00 AM
From: pat mudge  Read Replies (1) of 229
 
Analyst upgrade from Warburg Dillon Read:

Tuesday September 14, 10:15 am Eastern Time
RESEARCH ALERT - AudioCodes EPS view upped

NEW YORK, Sept 14 (Reuters) - Warburg Dillon Read analyst Nikos Theodosopoulos said he raised his 2000 earnings per share outlook and price target for Israeli Internet telephony company AudioCodes Ltd. Tuesday.

-- In a report, he raised his estimate of 2000 revenues to $43 million from $41 million and lifted the earnings per share outlook to $0.69 from $0.66.

-- He raised the stock's price target to $45.

-- AudioCodes designs, develops and markets enabling technologies and products for voice-over-packet networks. The company's product line includes a variety of signal processor chips and communications software.

-- ``We believe that AudioCodes is on track to meet or exceed our (third-quarter) revenue and EPS estimates of $7.5 million and $0.13,' the analyst wrote.

-- ``We also believe that visibility remains good for the company, and the announced addition of Siemens (AG (quote from Yahoo! UK & Ireland: SIEG.F)) to its list of customers in the quarter supports this belief.'

-- The company's shares were up 1-1/4 at 39-1/4 in early trade, easing from a record of 39-1/2.
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