Wedbush Morgan Upgrades Sybase (SY) to Outperform; Positioned for Higher Growth in 2010
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Wedbush Morgan upgrades Sybase, Inc. (NYSE: SY) from Neutral to Outperform. Price target increased from $34 to $48.
Wedbush analyst says, "We are upgrading Sybase to OUTPERFORM as we believe deal activity is accelerating and feel SY is positioned to become a meaningfully higher growth profile company as we enter 2010. Our checks indicate deal flow is strengthening for both its database/data warehouse and enterprise mobile messaging businesses, and we expect its numerous large partnerships signed this year for mobility initiatives to generate material new revenue in FY:10...As we believe SY is now positioned for higher growth prospects, we are conservatively raising FY:10 estimates to 1,226m/$2.61 from $1,193m/$2.49, now expecting 9% revenue growth and 14% EPS growth."
To see more analyst ratings on SY Click Here.
Sybase, Inc. provides enterprise and mobile software solutions for information management, development, and integration worldwide.
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