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First Albany Raises Cognos Estimates


First Albany raised its estimates on Cognos (COGN).

Analyst Mark Murphy says although license sales decelerated slightly in the second quarter, he thinks the company's overall results demonstrated solid fundamentals with good total revenue and earnings results. In the course of the next 12 months to 18 months, he expects ReportNet will enhance Cognos' product footprint and corporate direction.

Following on the success of its Series 7 product, Murphy thinks ReportNet and Series 8 will pave the way for ongoing improvement in the corporate perception of Cognos. He raised the 86 cents fiscal 2004 (Feb.) earnings per share estimate to 93 cents, and raised the 95 cents fiscal 2005 earnings per share estimate to $1.00.


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