Morgan Stanley Lifts Acxiom to 'Outperform'

Analyst Michael Russell notes that deals have been closing at a faster pace over the last six weeks

Morgan Stanley upgraded Acxiom (ACXM ) to outperform from neutral.

Analyst Michael Russell says the company's fundamentals are stabilizing. He notes management says cost-cutting initiatives are running ahead of guidance, and notes that deals have been closing at a faster pace over the last six weeks, with new alliances beginning to take shape.

Russell sees $0.31 fiscal 2002 (March) EPS, and $0.62 fiscal 2003 EPS. He set a $18 target.

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