Identix "buy"
Wednesday, April 07, 2004 3:38:07 AM ET
Miller Johnson Steichen Kin.
NEW YORK, April 7 (New Ratings) - Analyst Jay M Meier of Miller Johnson Steichen Kinnard reiterates his "buy" rating on Identix (IDNX). The target price is set to $6.50.
Shares of Identix, the world's leading multi-biometric security technology company, are currently trading at $6.44.
According to Miller Johnson Steichen Kinnard's research note published yesterday, the US Department of State (DOS) is expected to make face recognition mandatory for the US visa and passport programs in the near future. The DOS has issued a notification to the US-based information technology service providers to submit their tenders for providing face recognition techniques to the government, the analyst says. The analyst expects the "best overall value" evaluation process to be implemented to select the company that is to provide the necessary technology. Identix is a strong contender in this high-value tender, the analyst says.
According to Miller Johnson Steichen Kinnard, International Civil Aviation Organization (ICAO) has also made face recognition mandatory in machine readable travel documents, including passports and visas. The 180 countries participating in the visa waiver treaties would have to buy the technology from an outside vender, such as Identix, to comply with the ICAO standards in the near future. The analyst expects Identix's earnings to be boosted by the deployment of the face recognition technique during the current year.
Miller Johnson Steichen Kinnard reiterates its "buy" rating on Identix.
© 2004 New Ratings
NASDAQ: IDNX.NAS at 4.00PM ET $7.14 +0.70 (+10.87%)
Identix | quote - chart - all articles previous
03/16/04 Identix "buy," target price raised Miller Johnson Steichen Kin.
03/15/04 Identix "equal weight" Stephens Inc.
03/01/04 Identix "equal weight" Stephens Inc.
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