99, Nice call RB. Im still holding.. glad to see we are getting more coverage.... finally... and a solid name too! I've been waiting for at least 150 to start taking some off the table. --Sid
U.S. Bancorp Piper Jaffray Initiates Coverage of
PUMA with a
Strong Buy Rating and $175
Price Target
Business Editors
MENLO PARK, Calif.--(BUSINESS WIRE)--Feb. 16, 2000--
- A Pure Play In the White-Hot-Wireless Internet Technology Market -
U.S. Bancorp Piper Jaffray Managing Director and Senior Wireless
Communications & Mobile Computing Analyst Sam May today initiated
coverage of Puma Technology (PUMA--$102, (a)) with a Strong Buy
rating. Puma is a leading supplier of personal information management
(PIM) software, wireless Internet connectivity and intelligent agent
applications.
"We are initiating coverage of Puma Technology with a Strong Buy
rating and $175 price target, based on 100 times fiscal 2000
revenues," said May. "In our view, the wireless Internet market is
beginning to emerge, due in large part to the development of
higher-speed networks and applications from leading software
developers like Puma. We view Puma as a pure play in the
white-hot-wireless Internet market and believe the company will
directly benefit from the explosive growth in this space."
May expects wireless-subscriber growth to increase from
approximately 420 million users at the end of 1999 to over 1.2 billion
in 2004. In addition, May estimates that the 8 million personal
digital assistants (PDAs) sold in 1999 will increase to over 44.3
million in 2004, giving Puma's PIM products an addressable market of
over $2.4 billion by 2004.
"Puma's Intellisync software has quickly risen to dominate the
hand-held market with clients including Research in Motion (a)(b),
Palm Computing, Amazon (a), America Online and other industry
leaders," said May.
For more information, visit our Web site at www.piperjaffray.com |
