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Technology Stocks : Tumbleweed Communications Corp. (TMWD)

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To: OverUnder who started this subject9/12/2003 3:38:40 PM
From: Grant Hurford   of 290
 
8:30AM Tumbleweed Comms target raised to $6 at Fulcrum (TMWD) 4.30: Fulcrum raises its target on TMWD to $6. Even excluding $170M of NOLs, firm believes the stock is now worth 30x its F2004E of $0.20, which leads to its target price of $6. Firm says Q3 operating plan is progressing better than expected with strong cross-selling of the e-mail firewall and secure transport solutions with an integrated salesforce. Also, the firm's sources tell it that Tumbleweed has already won some important financial services business already this qtr and TMWD has been very active in Washington, D.C. as the co has the opportunity to win the Department of Health and Human Services business for e-mail security in a similar fashion that they have worked with the FDA.
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