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CS First Boston Ups Software Stocks


CS First Boston upgraded Tibco Software (TIBX ), RightNow Technologies (RNOW), and Quest Software (QSFT) to outperform from neutral on Tuesday, citing favorable economic trends, reasonable valuations and merger and acquisition activity in the software industry. CSFB also upped the web services company Novell (NOVL )to outperform from underperform.

Analyst Jason Maynard believes that near-term expectations for the stocks are reasonable, as their spending has likely stabilized and this leads to a greater chance of positive upside in their earnings per share revisions. Maynard thinks the second half of 2005 will show a seasonally strong pickup in license revenues, leading to these companies' healthy overall financial performance.


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