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Technology Stocks : IMRS A Y2K FIRM SUCCESSFULLY REPOSITIONING ITSELF
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To: paul e thomas who wrote ()3/22/2000 9:52:00 PM
From: Byron Angel   of 188
 
IMRglobal drumming up business

Shares of IMRglobal popped 2 7/8, or 21 percent, to 16 7/8 Wednesday after Raymond James touted the company's prospects saying it is "churning and burning to get new business."

Analyst John Mahoney boosted his recommendation to "strong buy" from
"market perform" and lifted his 2000 and 2001 earnings per share
estimates to 60 cents and 90 cents per share, respectively, well above
consensus estimates of about 30 to 35 cents a share for 2000 and 70 to
75 cents a share for 2001.

The firm said IMRglobal's credibility had been shot over the last two
quarters largely due to internal turmoil but that the company, which
provides e-business and information technology services, is now
displaying evidence that it is winning and capable of implementing complex
projects.

"The market appears to have underestimated the company's revenue and
profitability rebound," Mahoney said in his research note adding that he
expects operating margins to rebound steadily throughout 2000.

Mahoney instituted a $21 price target for IMRglobal shares noting that he
expects the company to begin to regain investor confidence and earn a
higher valuation with the release of first-quarter results.
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