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Strategies & Market Trends : e-Commerce the Next 100 Months...... -- Ignore unavailable to you. Want to Upgrade?

To: TLindt who wrote (519)	4/13/1998 10:51:00 AM
From: RMP	Read Replies (1) \| Respond to of 2882

Another interesting company Apr 12 th. Lehman Brothers initiated coverage of Israel's Fundtech Ltd .(Nasdaq: FNDTF) with a 1-buy rating and a 12-month price target of $27 per share. The shares, initially offered at $13 on Nasdaq last month, closed at $19-1/4 on Friday. Fundtech, which provides Windows NT-based solutions for the funds transfer and cash management activities of financial institutions, is benefiting from an acceleration in demand in the banking, brokerage and mortgage industries. ''We expect Fundtech to grow top-line over 100 percent the next two years and earnings per share should total $0.41 and $0.76 in 1998 and 1999, respectively,'' analyst Patrick Burton said in a report. It earned $0.04 a share in 1997. Apr 8th Tow brokers initiated coverage with buy recommendations. BA Rbtsn Stphns and BancAmerica. BancAmerica Robertson Stephens research analyst Gary Craft Has a twelve-month price target of $28. There are three addressable markets for Fundtech -- domestic and international Fedwire payments applications, and corporate cash management solutions, which he estimates to be at least a $750 million global market -- growing 35% annually. Craft believes Fundtech is in a superior position to capture a substantial portion of this market share as a result of its specialized software payments solution. ''We see Fundtech as a premier payments technology vendor. With the payments industry coming alive through electronic commerce initiatives and heightened concern in payments' risk management, Fundtech's proven NT applications will arguably ride a large and growing domestic/international wave of business,'' said Craft. Craft introduced his FY 1998 and 1999 EPS estimates of $0.43 and $0.83, respectively.