Markets & Finance

CS First Boston Keeps 'Buy' on Retek


Credit Suisse First Boston reiterates buy on Retek (RETK).

Analyst Brent Thill thinks the Internet software company's second quarter is tracking to his $60.6 million total revenue (13% sequential growth), and $0.10 earnings per share estimates. He says his contacts suggest a pipeline rich with strategic, tactical and point solution deals that help spread dependence on elephant-sized deals. He notes underlying strength is spread across both U.S. and international markets, and he believes a one multi-million dollar deal is already closed with a top European retailer.

Thill says the mid-market (tier 2) represents enormous upside going forward as Retek's dominant position in tier 1 cascades downstream. He has a $35 target.


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