Endace "buy," target price raised

05/30/07 - Panmure Gordon & Co

LONDON, May 30 (newratings.com) - Analyst Nick James of Panmure Gordon maintains his "buy" rating on Endace (EDA). The target price has been raised from 300.0p to 350.0p.

In a research note published this morning, the analyst mentions that the company can take advantage of its technology edge to become a leading provider of network-monitoring solutions. Customer pull from tier-1 players has improved Endace’s prospects and the company’s transformation is likely to continue in FY08, the analyst says. Robust profitability would enable the company to fund its growth, Panmure Gordon adds.