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Technology Stocks : Hummingbird Comm. (HUMC)

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To: Jay Anderson who wrote (1784)1/12/1999 11:28:00 PM
From: VivB  Read Replies (1) of 2018
 
Griffiths McBurney ups Hummingbird
Tuesday January 12, 11:48 am Eastern Time

TORONTO, Jan 12 (Reuters) - Brokerage Griffiths McBurney said on Tuesday it had upgraded its rating on Toronto-based software firm Hummingbird Communications Ltd. (Nasdaq:HUMCF - news) to accumulate from neutral.

Griffiths McBurney made the following assessment of Hummingbird:
- raised the 12-month share target price to C$35 from C$31.
- said market for business intelligence software, which mines data for comparison and analysis, is strong and underlying demand is continuing to expand.
- said Hummingbird, which has a business intelligence side, is trading at a ''significant discount'' to comparable companies in the market.

Shares of Hummingbird on the Toronto Stock Exchange were up C$0.40 to C$31.30 in late morning trade.

($1=$1.51 Canadian)
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