TIBX ALERT ------------------------ NEW HOD on STRONG BUY
Buckingham Upgrades : -- Morning Note -- Buckingham Research upgrades TIBCO Software (TIBX 11.14 +0.59) and Vitria Tech (VITR 4.97 +0.27) to STRONG BUY from Accumulate rating with price targets of $16 and $9, respectively. Also, upgrades webMethods (WEBM 17.80 +0.60) to STRONG BUY from Neutral rating with $24 price target, and reiterates Strong Buy on IONA Tech (IONA 14.40 +0.45). Firm is becoming more bullish on the prospects of integration software companies as a result of some recent field checks, feedback from system integrators, independent software vendors, as well as recent surveys of corporate CIOs and senior executives of Global 2000 companies, and government entities. Also, believes March Q for IONA, Vitria, and webMethods as well as Feb Q for TIBCO, are tracking as expected, with no major fall-off after posting strong results for Dec Q (Nov for TIBCO); notes that each company has a strong and well-qualified pipeline, providing improved visibility for 2002. |
