Fundtech Ltd. (FNDTF) Message Board

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Technology Stocks : Fundtech Ltd. (FNDTF)

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To: Boaz who wrote ()	4/26/1998 11:03:00 AM
From: Boaz	of 40

RESEARCH ALERT-Fundtech EPS raised - Sunday April 26, 8:35 am ET JERUSALEM, April 26 (Reuters) - Lehman Brothers said in a report that it had raised its 1998 earnings estimate for Israel's Fundtech Ltd (FNDTF - news) but maintained the software company's "1-Buy" rating. Analyst Patrick Burton said he raised Fundtech's 1998 earnings per share (EPS) estimate to $0.44 from $0.41 following better-than-expected first-quarter results. "Fundtech announced first-quarter results above expectations," he said. "EPS were $0.03 versus a loss of $0.07 in first-quarter 1997 and above our break-even forecast." Burton kept to his EPS estimate for 1999 at $0.76 but indicated an upward revision would be following. He said the company's acquisition of two of CheckFree's (CKFR - news) software lines, which had total sales of $9 million in 1997, would substantially increase Fundtech's revenues starting this year. "Given our 1998 revenue forecast for Fundtech was $16.1 million, this acquisition materially impacts our 1998 and 1999 revenue forecast," Burton said. "We view the deal as neutral to 1998 EPS and accretive to 1999 estimates." Burton issued a 12-month price target of $27. On Friday, Fundtech closed at $21.625 on the Nasdaq.

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