Endace "buy"

01/02/07 - Panmure Gordon & Co

LONDON, January 1 (newratings.com) - Analyst Nick James of Panmure Gordon maintains his "buy" rating on Endace Ltd (EDA). The target price is set to 187p.

In a research note published this morning, the analyst mentions that the company witnessed robust revenue growth of 44% in 1H07. Endace is well positioned to benefit from favourable market trends going forward, including the increased focus on security in the network and carrier network upgrades, the analyst says. The company’s technological advantage is exhibited by its gross margins of more than 70%, Panmure Gordon adds.