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Technology Stocks : BEA Systems (BEAS) - Undiscovered Growth Stock -- Ignore unavailable to you. Want to Upgrade?

To: Zelix who wrote (1101)	2/23/2000 12:07:00 PM
From: neverenough	Read Replies (1) \| Respond to of 2477

February 23, 2000 07:56 BEA Systems Price Target Boosted By CSFB, Jefferies, Lehman (BEAS) (NewsTraders.com)-- BEA Systems (BEAS) received praise in the form of target price increases from analysts today at several brokerages after the company posted fourth-quarter results that outpaced forecasts. Yesterday, the San Jose, Calif.-based company said pro forma revenue jumped 82%, operating profit almost quadrupled, and to top it all off announced a 2-for-1 stock split. Credit Suisse First Boston analyst Wendell Laidley responded to the strong showing by boosting his price target to $170 from $76, and reiterated a "strong buy" recommendation. "Through new product introductions and successful acquisitions, BEAS continues its transformation from an enterprise middleware company into an eCommerce and eBusiness transaction company," Laidley said in a morning research note. Separately, Jefferies & Co. analyst Richard Williams reiterated his "buy" rating on the stock and catapulted his 18-month price objective to $300 from $75. Williams said that although BEA Systems' shares have been on a positive run of late, the stock is still cheap compared to its peers. "While short-term corrections may buffer high valuation stocks like BEAS, the magnitude of opportunities available through the transforming influence of e-commerce on the global economy suggests that substantial upside remains," he said. Meanwhile, Lehman Brothers analyst Mike Stanek ramped up his goal for the stock to $180 from $55 while reiterating his top-shelf "buy" investment grade. Stanek said that BEA Systems' pipeline and visibility stand at record levels with the company indicating a high level of confidence for fiscal 2001. Of note, BEA Systems is holding a financial analysts conference in San Francisco Wednesday morning at 1:45 p.m. EST. Copyright 2000 NewsTraders Inc. All Rights Reserved 09:18 Wednesday, February 23, 2000