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

Markets & Finance

Adams Harkness Ups APCC Rating

American Power Conversion (APCC) posted $0.15 second-quarter EPS. Adams Harkness upgraded its investment recommendation on the shares to buy from market perform.

Analyst Eric Prouty says that despite the weak PC and telecom spending environment, he believes the company delivered superior quarterly results. He says results were driven by solid performances from its small- and large-systems segments. Prouty notes EPS upside was driven by strong gross margins of 38%. He says management indicated margin strength came from operations efficiencies due to recent cost-cutting measures in conjunction with a higher revenue base and a weak U.S. dollar, offset by some pricing softness in the small-systems business. The analyst raised his $0.55 fiscal 2002 EPS estimate to $0.57. Prouty has a $13 price target on the shares.

blog comments powered by Disqus