WR Hambrecht Co Initiates Coverage of Cambridge Technology Partners (CATP) With Market Neutral and Target of $20
IT Service Bellwether Taking a Cautious Approach to Recovery
SAN FRANCISCO, March 21 /PRNewswire/ -- The following is being issued by WR Hambrecht + Co, a member of the National Association of Securities Dealers, CRD number 45040:
WR Hambrecht + Co today initiated research coverage on Cambridge Technology Partners (Nasdaq: CATP) with a Market Neutral rating and a price target of $20. WR Hambrecht + Co's eServices analyst Greg Gore cited Cambridge's strong brand and market presence as investment highlights, but noted employee attrition continues to adversely affect the firm. WR Hambrecht + Co offers all its research reports free and real-time at www.wrhambrecht.com.
"Cambridge Technology Partners is among the most recognized and revered companies in IT services. The Company has access to key decision-makers at companies worldwide and is invited to bid on many of the largest, most important IT projects. We look forward to its return to glory, but believe it is premature at this time," Gore said.
Gore projects the firm will see revenues of $659 million in 2000, up from $628.1 million in 1999.
Cambridge Technology Partners provides consulting and systems integration service. Major business units include change management, e-Integration, and e-Business.
About WR Hambrecht + Co
WR Hambrecht + Co (www.wrhambrecht.com) is an online investment bank founded by Silicon Valley pioneer Bill Hambrecht. WRH+Co is leveraging technology to bring transparency to capital formation and securities exchange. The firm focuses on investing for its own account and providing underwriting and advisory services for technology and emerging growth companies. WRH+Co serves institutional and retail clients with global equity research, sales and trading, as well as electronic brokerage and online private equity syndication. WR Hambrecht + Co has offices in San Francisco, New York, Boston and Philadelphia and is backed by industry leaders including: American Century, epartners, Fidelity Ventures, Instinet Corporation and Novell.
SOURCE WR Hambrecht + Co
CO: WR Hambrecht + Co; Cambridge Technology Partners
ST: California
IN: MLM FIN CPR
SU: RTG
03/21/2000 08:31 EST prnewswire.com |
