Tech fool: I looked at SAVLY's numbers last night and decided not to go long but the glass was considered half full for SAVLY today. 98 & 99 estimates were cut but the stock went up.
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Tuesday October 27, 10:31 am Eastern Time
Company Press Release
SOURCE: BancBoston Robertson Stephens
BancBoston Robertson Stephens Reduces Estimates Yet Reiterates
Buy on Saville Systems
SAN FRANCISCO, Oct. 27 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National
Association of Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens senior communications analyst Marianne Wolk reiterated a buy on Saville Systems (Nasdaq: SAVLY -news). Saville Systems, based in Burlington, MA, is a billing company that bills for local exchange, wireless (cellular, satellite, paging), and Internet services -- on a single invoice -- worldwide.
Wolk is reducing Q4, 1998 and 1999 estimates to reflect Saville Systems' risks, including diminished CLEC liquidity, the instability of global financing markets, potential mix shift to service bureau contract -- risks she had outlined in several reports earlier this month.
''We believe this is an instance of the numbers catching up with the stock; our new forecasts reflect a lot of the short-term risks to the
story,'' said Wolk. ''With these cuts, we believe we have eliminated one of the last hurdles for investors focusing on the long-term
opportunity. Our conviction in the long-term remains high. We see strong potential for billing solutions and strong demand for Saville's
products. At this juncture, the company appears on track to reach at least 20 new customer contracts in 1998 with sixteen contracts signed and three more letters of intent.''
BancBoston Robertson Stephens is a leading international investment banking firm focused on emerging growth companies. The firm's
55 senior research analysts cover over 575 companies.
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