Dain Rauscher Wessels Announces Investment Opinion on Verisign Inc.
Dain Rauscher Wessels Reiterates Strong Buy Rating On Verisign
MINNEAPOLIS--(BUSINESS WIRE)--April 27, 2001-- Dain Rauscher Wessels equity analyst Stephen Sigmond today reiterated a Strong Buy-Aggressive Risk rating on Verisign Inc. (NASDAQ:VRSN - news), $46.60. He has a 6-month price target of $110.
Verisign is the leading provider of digital trust services for the Internet, intranets and extranets. ``True to form, VeriSign reported quarterly results that nicely exceeded our expectations,'' Sigmond said, commenting on the company's March quarter. ``Amid a difficult IT spending environment, VeriSign's 8-percent sequential increase in revenue outpaced the growth rates of most other Internet infrastructure and security companies. With another quarter of strong bookings and increasing deferred revenue, VeriSign continued to demonstrate the economies of scale inherent in its utility-like business model - critical infrastructure services, quasi-monopoly market positioning, recurring revenues and low variable costs.''
Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving Sigmond's research notes should call (612) 371-7752.
The Dain Rauscher Wessels division includes equity research, equity trading, institutional equity sales and corporate finance. The division's 40 analysts focus on five industries: consumer, energy, financial services, health care and technology. Currently, the analysts follow nearly 500 companies. The division, which employs 450 people, has offices in Atlanta; Austin, Texas; Boston; Chicago; Dallas; Houston; Memphis, Tenn.; Menlo Park, Calif.; Minneapolis; New York City; Paris; San Francisco; Seattle; and Tel Aviv, Israel(a).
Dain Rauscher Corporation, a wholly owned subsidiary of Royal Bank of Canada (NYSE:RY - news), is one of the nation's largest full-service securities firms with 1,200 investment executives and 3,800 employees. The company's broker-dealer, Dain Rauscher Incorporated, serves individual investors and small business owners through offices located predominantly in the western half of the United States, and capital markets and correspondent clients in select U.S. and international markets. Founded in 1909, Dain Rauscher Incorporated is a member of the New York Stock Exchange and other major securities exchanges, as well as the Securities Investor Protection Corp. The company's headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St., in Minneapolis.
Dain Rauscher Incorporated makes a market in Verisign Inc. and may act as a principal with regard to the sales or purchases of this security.
Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI, its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
(a) Strategic alliance with Tamir Fishman & Co.
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Contact:
Dain Rauscher Corporation, Minneapolis
Media Contact:
Kevin Cockett, corporate communications, (612) 371-7752
kcockett@dainrauscher.com
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