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AMZN 232.38+0.1%Dec 24 12:59 PM EST
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To: Robert Rose who wrote (104713)6/6/2000 7:39:00 PM
From: H James Morris  Read Replies (2) of 164684
 
>NEW YORK, June 5 (Reuters) - Banc of America analyst Greg Vogel on Monday initiated coverage of British software maker Autonomy Corp. <AUTN.O><AUTN.ED> with a buy rating and a price target of $135 per share.

-- shares of Autonomy were up 9 at 119 on the Nasdaq stock market.

-- Autonomy's technology lets corporate customers and media companies to efficiently manage, organize, distribute, and search text-based information in the electronic commerce, new media publishing, and corporate portal markets.

-- Vogel said he views company as leading provider of Internet infrastructure software developed to automatically process large amounts of unstructured information.

-- said Autonomy is the early leader in an emerging market and said company has signed significant corporate and new media customers and will benefit long term from significant OEM relationships.

-- said he believes revenue growth has the potential to accelerate in 2000 from the 165 percent year-over-year growth recorded in 1999 and currently sees 170 percent revenue growth in 2000.

-- sees 2000 earnings of 17 cents per share on $59.4 million in revenue and 2001 earnings of 46 cents per share on $103.4 million in revenue.

-- said Autonomy reached an operating profit in the first quarter of 2000, but expects the company to continue spending aggressively in effort to capture market share.

-- said his model assumes 16 percent sequential revenue growth in the second quarter of 2000 to $13.6 million and earnings of 3 cents per share.

11:43 06-05-00
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