Credit Suisse First Boston raises estimates on Network Associates (NETA).
Analyst Todd Raker tells salesforce that the company reported strong results -- pro forma third-quarter EPS of $0.05 on revenue of $193 million, excluding results from Mcafee.com, well ahead of his $180 million and $0.01 loss forecast. He says the strong performance was led by robust global demand for McAfee anti-virus and Sniffer network performance solutions in U.S.
He raised his fourth-quarter forecast of $0.02 EPS on $184 million in revenues to $0.07 EPS on $200 million in revenues. He raised 2002 EPS to $0.37 from $0.25, while maintaining $817 million revenue outlook. He raised his target to $21, from $18.