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Technology Stocks : MAGIC SOFTWARE-MGIC
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To: paper man who wrote (137)3/7/2000 7:46:00 AM
From: Dorine Essey  Read Replies (1) of 219
 
RESEARCH ALERT-Merill starts Magic Software

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LONDON, March 7 (Reuters) - Merrill Lynch said in a research
report that it had initiated coverage of Israel's Magic Software
Enterprises Ltd MGIC.O with a buy recommendation.
-- "Magic has developed a computer language so
simple to use that it saves 80%-90% of programming time, over
more traditional tools like Oracle's developer 2000 and
Progress," said analyst Tal Liani.
-- Sees 12-month price objective $40.
-- "A two-pronged strategy was implemented in 1998:
a) vertical integration to gain the mark-up generated by the
software houses; & b) a focus on e-business and CRM
applications.
-- "The success was immediately noticed: the
Company launched its first e-commerce module in
September 1999 and has gained already 14 contracts.
-- "Also, Magic's Linux offering is another source
for an upside. All Magic's applications are ready for Linux. It
has also recently released the first native Linux development
tool.
-- "We attribute a lot of value to Magic's strong
marketing channels: it has presence in 50 countries and work
directly or through 2,500 software houses, which exclusively
develop and market Magic applications.
-- "To conclude the upside, we see three sources of a
further rerating: the shift in focus on to the applications
market; P&L-enhancing acquisitions; and the Linux upside.


REUTERS
Rtr 04:47 03-07-00
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