TSSW Coverage Initiated By Razo & Co - TGT $7.00
AM Razo & Co. Announces Investment Opinion on TouchStone Software Corp. AM Razo & Co. Initiates Coverage on TouchStone Software With a "Strong Buy" Rating
IRVINE, Calif.--(BUSINESS WIRE)--Feb. 8, 2000-- AM Razo & Co. has initiated research coverage of TouchStone Software Corp. (OTC BB: TSSW) with a "Strong Buy" recommendation.
The report can be viewed on the Internet at www.stockwire.com in the "breaking news" section or, to navigate directly to the report, use the URL listed below.
AM Razo's report sets a 12-month share price target of $7.00 based upon a three times multiple of estimated 2000 revenues and a five times multiple of the estimated net asset value of the company's e-commerce business-to-business investment portfolio. The report projects a 25 percent increase in revenues for the year 2000 over the previous year, to $8 million.
The report stated, "We believe that TouchStone's strong new management team and its focus on the business-to-business marketplace positions them to take advantage of one of the most explosive trends in world history."
"Having placed its diagnostic products operations into a newly formed subsidiary, eSupport.com, TouchStone has successfully transitioned into an Internet holding company with a determined focus on building its portfolio of investments in later stage business-to-business e-commerce companies," said Andrew Razo, chairman and CEO of AM Razo & Co.
"TouchStone's operating strategy is to leverage its expertise in the IT and computer repair and diagnostics industries by co-investing with other professionals to provide incubator services and support for companies in which it invests. This a is true 'value added' component in an investing relationship allowing TouchStone to retain some measure of control over the outcome."
TouchStone has made three investments thus far, one of which is slated for an IPO next month, based upon that company's recent SEC filing (S-1 Registration). This is expected to provide TouchStone with an opportunity for a significant return on its investment.
The report cites estimates from Forrester Research indicating that the business-to-business e-commerce market will grow from $43 billion in 1998 to $1.3 trillion by 2003.
"The efficiencies brought about by Internet e-commerce solutions are revolutionizing the way commerce is conducted globally. TouchStone has positioned itself to take full advantage of that trend through a diversified investment strategy and a strong core business model," concluded Razo.
With headquarters in North Andover, Mass., TouchStone Software Corp. is recognized as a major force in the utility software market focusing on PC system diagnostics and utilities. Founded in 1982, TouchStone designs, develops and markets a comprehensive line of utility programs, highlighted by the CheckIt(R) Family of system diagnostics.
The CheckIt Family consists of WinCheckIt 6.5(TM), FastMove! 2000(R) and CheckIt NetOptimizer(TM). TouchStone sells and distributes its product throughout the retail, direct and OEM sales channels. In March 1999, TouchStone acquired Unicore Software Inc., which was previously a wholly owned subsidiary of Phoenix Technologies Ltd. (Nasdaq: PTEC).
Unicore is a full service computer engineering company that is also the world's oldest and largest supplier of BIOS upgrades. The company also provides diagnostics, hard drive installation utilities and drivers to many leading manufacturers in the PC industry.
For more information about TouchStone Software Corp., visit the company's Web site at www.touchstonesoftware.com.
To view the research report, visit www.stockwire.com and click on "breaking news" or, to navigate directly to the report, type the following URL in your browser window: www.stockwire.com/stockwire/breaking_news/marketpathways/tssw/res1.htm.
The report provided on the Stockwire.com Web site was prepared by employees of AM Razo & Co. from sources that are believed to be reliable, but the company cannot assure the reader that these sources were complete, timely or accurate.
The investments discussed in these reports may not be suitable for all investors. Investors should make their own investment decisions based upon their own financial objectives and financial resources. Investors should be aware that the market price of the securities discussed in these reports change often and may be volatile.
Affiliates or employees of AM Razo & Co. may have a long or short position or hold options on securities or other related investments of the company discussed in these reports.
These reports are for informational purposes and are not intended as a recommendation or an offer or solicitation of an offer to any person with respect to the purchase or sale of the security discussed in this report. These reports are intended for United States |
