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Strategies & Market Trends : The New Economy and its Winners
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To: Lizzie Tudor who wrote (11774)5/28/2002 11:06:21 AM
From: Bill Harmond  Read Replies (2) of 57684
 
09:09 ET VRTS Veritas Software: price target cut by Soundview (23.55)
We are hearing from sources that Soundview cut their licence rev forecast and price target for VRTS, saying checks indicate that backup/recovery demand appears to be slowing vs the March qtr and there is some evidence that users are working to extract bigger price concessions. Q2 est had assumed a modest QoQ license rev drop of about 4%, but given the most recent inputs firm believes a decline of 18% is in order. Cuts price target to $34 from $41.
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