Ascential Software "sector perform;" target price raised -update

07/23/03 - RBC Capital Markets

NEW YORK, July 23 (New Ratings) – Analyst David Beck of RBC Capital Markets issues a "sector perform" rating on Ascential Software (ASCL), while lowering his estimates for the company. The target price has been raised from $16 to $18.

In a research note published this morning, the analyst mentions the company recently reported robust Q203 results. The analyst says, however, that Ascential Software’s stock is expensive at its current levels. The EPS estimates for 2003, 2004 and 2005 have been reduced from -$0.53 to -$0.96, from $0.14 to $0.06 and from $0.31 to $0.24, respectively.