Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

CIBC World Cuts Dendrite to 'Hold'

CIBC World downgraded its investment rating on Dendrite International (DRTE) to hold from buy.

Analyst Ben Rooks says the company's prior guidance was 22%-25% revenue growth, while EPS consensus was $0.18. He says management attributes the shortfall to delays in securing a written contract associated with add-on work being completed for an existing client.

Rooks says the weakening economy, lengthening sales cycles and more competition increases the risk for future quarters. He cut the $0.94 2001 EPS estimate to $0.55, and trimmed the $1.25 2002 estimate to $0.83. He expects management's credibility to require the rest of year to mend, and says would-be buyers should wait until the stock's price drops below $8.

blog comments powered by Disqus