Lehman Keeps 'Strong Buy' on Veritas

Analyst Neil Herman says the software firm's new opportunities appear to offset a weaker IT spending environment

Lehman Brothers maintains its strong buy on Veritas (VRTS ).

Analyst Neil Herman says Veritas reiterated its comfort with previous guidance last week, and indicated that business is tracking nicely so far in Q1. He says the overall weak economic and IT spending environment appears to be offset by huge opportunities Veritas has associated with new products, new platform support and international pportunities. He says it's hard to imagine what growth would be like if the overall environment were healthy. Herman maintains a strong buy despite likely continuing negative investor psychology and a tough macro-environment. He has a $160 target.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE