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

RBC Trims Titan to Sector Underperform

RBC Capital cuts Titan (TTN) to sector underperform.

Government technology developer Titan ended its merger agreement with defense contractor Lockheed Martin. Analyst Cynthia Houlton says she's concerned Titan faces significant financial and operational challenges as a standalone company. She says the Justice Department's settlement remains unresolved regarding a plea agreement on alleged violations of the Foreign Corrupt Practices Act. She notes Titan is also under investigation for its role in the Iraq prisoner scandal.

Houlton believes mid-level management turnover could negatively impact Titan's new wins, its competitive position, and its core operations during the next few quarters. She cut the 64 cents 2004 EPS estimate to 61 cents, and cut the 99 2005 EPS estimate to 81 cents, citing lower organic growth, higher costs, and interest payments. She cut the $20 target to $10.

blog comments powered by Disqus