Markets & Finance

USB Piper Ups Internet Security Rating

USB Piper upgraded Internet Security (ISSX) to market perform from underperform.

Analyst Gene Munster he sees shares of Internet Security as a near-term trade, given he thinks the overwhelmingly negative Street sentiment will soften in the near term. He continues to believe intrusion detection and prevention is a a growing market segment, and sees 10%-15% market growth in 2003. He says potential exists that new competition (Cisco, Symantec, NetScreen, and Networks Associates) will be slow to gain traction, which could move Internet Security into 2003 revenue growth.

He cautions that shares are volatile and sensitive to changes in the information-techonology spending environment, and competitive developments.

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