Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Jefferies Ups ACS to Buy from Hold


Jefferies raised its investment opinion on Affiliated Computer Services (ACS) to buy from hold, citing the company's recently announced quarterly results.

Analyst Joseph Vafi said ACS' revenues of $1.31 billion bettered his estimate by $50 million. While ACS' story is still not firing on all cylinders, Vafi thinks its financial performance has troughed. He noted strong bookings recorded during the past two quarters, as well as overall organic revenue growth. He believes the alarming revenue contraction in the company's government business also looks to have ended. Based on the company's solid revenue performance and new business signings, Vafi raised his 77 cents second quarter earnings per share estimate on $1.25 billion revenue to 82 cents on $1.31 billion revenue. He also moved his $3.34 fiscal year 2006 (ending June) earnings per share estimate on $5.35 billion revenue to $3.46 earnings per share on $5.46 billion revenue. He upped his $55 price target to $57.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus