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

Deutsche Bank Lowers Convergys to 'Hold'

Deutsche Bank downgraded Convergys (CVG) to hold from buy.

Analyst Brandt Sakakeeny says he is concerned that Sprint PCS (PCS), the company's second largest client in terms of 2002 revenues, intends to walk away from its outsourced billing relationship with CVG upon the contract's expiration on Dec. 31, 2004. He says the commentary in the company's latest 10-Q is materially different when referring to PCS. It notes PCS has until March, 2004 to notify CVG about renews.

Sakakeeny maintained his estimates. Although the stock has partially discounted the risk that PCS does not renew, the downgrade reflects remaining uncertainty of how much of an impact the loss of a major contract could have on the company's EPS.

blog comments powered by Disqus