Markets & Finance

Deutsche Bank Ups CSG Systems to 'Buy'

CSG Systems International (CSGS) says it inks a new contract with Comcast (CMCSK). Deutsche Bank upgraded the stock to buy from hold.

Analyst Brandt Sakakeeny says he believes the risk/reward scenario for investors has turned much more compelling. He says with the Comcast agreement, and EchoStar business extended through March 2006, investors have materially better revenue and EPS visibility.

He raised his $14 target to $19. He says as the spending environment for new billing systems could remain challenging at best, he continues to forecast only modest limited downside risk, particularly in a recovering economy that could witness accelerating demand for interactive services and new profitability in its GSS division.

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