Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

CS First Boston Downgrades CSG Systems to 'Buy'


Credit Suisse First Boston downgraded CSG Systems (CSGS) to buy from strong buy.

Analyst Susan Passoni says her downgrade is based on a weaker than previously expected outlook for the rest of 2002. She notes revenues beat her estimates, but says allowances for the Adelphia exposure and higher than anticipated legal fees impacted the company's margins. Passoni cut her $1.84 2002 earnings per share estimate to $1.47, and cut the $2.13 2002 earnings per share estimate to $1.60.

While the environment remains challenging and Passoni says she doesn't foresee a recovery until the second half of 2003, she still views CSG as attractive based on strong cash flow generation and a recurring revenue stream. She has a $20-$25 12-month target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus