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Technology Stocks : CyberGuard Corp (CGFW)

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To: VIXandMore who started this subject1/9/2004 10:56:23 AM
From: VIXandMore  Read Replies (1) of 14
 
9:48AM CyberGuard initiated at CE Unterberg with Buy and $14 target (CGFW) 9.94 +0.49

CE Unterberg initiates coverage on CyberGuard with a Buy rating and $14 target. The co's focus on the high-end security market is likely to enable the co to post top line growth ahead of the industry average. The market for high-end security products is likely to grow from $700 mln in 2003 to $1 bln in 2006. CyberGuard has been able to show steady top-line growth and gain market share due to its focus on high-end enterprise customers and govt agencies. The firm's $14 target represents a multiple of 35x the firm's initial CY05 earnings of $0.40.
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