Markets & Finance

RBC Capital Cuts Business Objects to Sector Perform


From Standard & Poor's Equity Research

RBC Capital downgraded Business Objects (BOBJ) to sector perform from outperform, noting a shortfall in deal execution as well as poor European/Asia-Pacific performance.

Analyst Mike Abramsky cuts his 2006 earnings per share (EPS) estimate to $1.45 and his 2007 EPS estimate to $1.69. He also cut his price target to $29. He says Business Objects has become a "show me" story for investors. He says CEO Schwartz has not yet been able to duplicate his track record at Symantec of establishing and beating conservative guidance consistently. He believes the stock remains range bound until investors see improving execution and recovering license outperformance.


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus