Markets & Finance

CS First Boston Boosts Acxiom to 'Buy'

CS First Boston upgraded Acxiom Corp. (ACXM) to buy from hold.

Analyst Anthia Christian says Acxiom announced an amended facility with its bank group, eliminating a major overhanging issue. The company says July was a profitable month, boding well for a return to profitability this quarter. Christian notes several deals have closed since the company released results on July 23, giving her more comfort in her estimates. She sees $0.31 fiscal 2002 (March) EPS estimate, and $0.56 EPS for fiscal 2003.

Christian says the company still has valuable services and a long list of blue chip clients. She notes Acxiom remains well positioned in the database marketing and information management space. She set a $15 12-month target.

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