Markets & Finance

Miller Johnson Ups CNS To Neutral From Sell


Miller Johnson upgraded CNS (CNXS) to neutral from sell.

Analyst Chris Krueger said the company will report second quarter earnings per share results in a couple of weeks. He believes sales and earnings per share will meet or exceed his expectations. He also thinks CNS may possibly raise guidance for the second half of fiscal year 2006 (ending March). Even with these favorable factors, he still thinks the company's sales and earnings per share growth rates will slow significantly in the second half of fiscal year 2006 as comparables to the prior year get much tougher. However, since the shares have fallen approximately 25% in recent weeks, he believes this uncertainty has been priced into the stock. He sees $1.09 fiscal year 2006 earnings per share and $1.30 fiscal year 2007.


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