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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who started this subject	8/12/2003 10:30:10 AM
From: Dave Doriguzzi	Read Replies (2) of 57684

William, Two interesting notes from briefing.com. I have always liked DCTM but sounds like the competitive landscape is getting interesting 8:06AM CIBC initiates on two ECM companies : Firm initiates on FileNET (FILE 17.69) and Documentum (DCTM 16.89) with Sector Outperform and Sector Perform, respectively. Firm says demand for ECM is being driven by a dramatic increase in the volume of unstructured data and a host of regulatory issues (Sarbanes-Oxley, HIPPA, etc.)... As for FILE, firm says stock is attractively priced and sets a 12-18 month target price of $23... As for DCTM, firm says stock is fairly valued, but would likely take advantage of weakness in the stock in the low to mid teen range. 9:31AM RBC maintains Outperform on Open Text; target $40 (OTEX) 25.78 +0.04: RBC Capital maintains their Outperform rating and $40 target on OTEX ahead of Thursday's earnings report; firm thinks the co should continue to benefit from several large deals signed in Q3, and says the stock's recent selloff has vastly improved the relative attractiveness of OTEX vs its top competitor DCTM (stock now trades at a 63% discount to DCTM on a 2003 P/E basis).

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