Markets & Finance

CSFB Starts Netiq with Buy Rating

Credit Suisse First Boston starts coverage of Netiq Corp. (NTIQ) with a rating of buy.

Analyst John Rizzuto says that the company has expanded its product portfolio through development and acquisitions. He says Netiq operates in three market segments: Systems Test, Migration & Administration, Monitoring & Security Management and Business Analysis.

Based on its superior growth outlook, he believes that shares are an attractive buying opportunity. Although revenues are expected to grow faster than EPS in 2002, he believes over time it will leverage its model, resulting in a more impressive bottom line. He sees $0.63 per share in fiscal 2001 (Jun.), $0.40 in fiscal 2002. Rizzuto raises his $37 target on the stock to $40.

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