Markets & Finance

CSFB Heaps More Praise on Comverse

CS First Boston reiterated its buy rating on shares of Comverse Technology (CMVT).

Analyst Susan Passoni says AT&T Wireless chose Comverse's voicemail, unified messaging and enhanced services platforms for its 3G network. Comverse will replace AT&T Wireless' existing system and support its 3G network as it is deployed. She says although the 3G network is not set to be deployed until 2002, the 2G segment of the pact is impressive. She notes AT&T Wireless has over 15 million subscribers, and that Comverse will be providing AT&T Wireless with a full voicemail platform and additional 2G services. Passoni says the pact, which Comverse competed for, will make AT&T Wireless one of Comverse's top-10 customers. She sees $1.47 fiscal 2001 (Jan.) EPS, and sees $1.78 for fiscal 2002.

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