CIBC World Ups i2 Technologies to Sector Outperform
CIBC World upgraded i2 Technologies (ITWO) to sector outperform from sector perform, after the company posted quarterly results.
Analyst Brad Reback believes second quarter results demonstrate that i2 Technologies, with its new platform, is effectively re-engaging with its installed base and new customers. He notes that management is very optimistic regarding future opportunities, and aggressively adding to its salesforce. He says second quarter software bookings of $14.9 million are up 70% year over year. He believes i2 Technologies is an intriguing idea for small-cap investors focused on companies with growing recurring revenue streams. He also set a $20 stock price target.