BancBoston Robertson Stephens Upgrades VRSN to a Buy Rating
Thursday April 29, 10:45 am Eastern Time
Company Press Release
SOURCE: BancBoston Robertson Stephens
SAN FRANCISCO, April 29 /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 managing director and senior networking software analyst John F. Powers today upgraded
VeriSign Inc. (Nasdaq: VRSN - news) to a Buy rating from a Long-Term Attractive. VeriSign, headquartered in Mountain
View, Calif., is a provider of Internet-based trust services needed by websites, enterprises and individuals to conduct trusted
and secure electronic commerce and communications over the Internet, intranets and extranets.
''We are upgrading our rating on VeriSign to Buy from Long-Term Attractive,'' said Powers. ''We believe that business
fundamentals continue to be strong and feel that VeriSign should be trading significantly higher than it is when compared to
other Internet Infrastructure companies.
''The company reported total revenues of $15.6 million, exceeding our estimate of $14.7 million, and earnings per share of a
loss of $(0.08), which was better than our estimate of a loss of $(0.09) by one cent.''
Clients interested in receiving more information should contact their salesperson at 415-781-9700.
BancBoston Robertson Stephens is a leading international investment banking firm focused on growth companies. The firm's 55
equity and high yield research analysts cover more than 600 companies. Additional information is available upon request.
The information contained herein is not a complete analysis of every material fact respecting any company, industry or security.
Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens, the
information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date
of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report
contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results
described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those
discussed in ''Investment Risks.'' BancBoston Robertson Stephens from time to time performs corporate finance or other
services for some companies described herein and may occasionally possess material, nonpublic information regarding such
companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained
in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens
has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or
warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or
correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens, its managing directors,
its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or
sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and
Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein
are not FDIC insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment
risk, including possible loss of any principal amount invested.
SOURCE: BancBoston Robertson Stephens |
