Markets & Finance

CSFB Ups Business Objects to 'Outperform'


Credit Suisse First Boston upgraded Business Objects (BOBJ) to outperfrom from neutral.

Analyst Bernd Volkel says he thinks business software maker is close to the inflection point that should lead to revenue acceleration and margin expansion. He thinks the second quarter should be an inflection point for Business Objects, as it has embarked on an ambitious product launch program. Voklel says Business Objects should also see margins increase as it sells more products at a higher average selling price through the same channel.

Volkel says the company is in one of the few hot spots in technology, and sees 11% 2003 revenue growth, at the top end of the sector. He thinks the company low-balled its guidance, and he feels that the competitive threat from Microsoft is overstated. He raised his $20 target to $22.


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