Markets & Finance

DB Alex. Brown Upgrades EDS


DB Alex. Brown upgraded its rating on shares of Electronic Data Systems (EDS) to strong buy from buy and raised estimates.

Analyst Mark D'Annolfo says the upgrade is based on strength in IT, the business process outsourcing market, strong results, contract signings and solid visibility. He thinks the IT outsourcing market is in solid shape, based upon both EDS' numbers ("base" business is up 20%) and IBM Global Services. He notes contract signings is up 67% to $75 billion.

D'Annolfo says the newer management team has turned the company once again into a growth story. He raised the $2.64 2001 EPS to $2.65, and sees $3.02 EPS for 2002. He has a $76 target.


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus