VeriSign "neutral," estimates raised

07/23/04 - First Albany

NEW YORK, July 23 (New Ratings) - Analysts at First Albany maintain their "neutral" rating on VeriSign Inc (VRSN), while raising their estimates for the company.

In a research note published this morning, the analysts mention that the company reported its 2Q EPS and revenues, excluding those from the Jamba! acquisition, broadly in-line with the estimates. The company benefited from the successful integration of Jamba!, healthy organic growth and strength across its segments during the quarter, the analysts say. Although VeriSign is witnessing consistent growth, First Albany believes that the company's stock is fairly valued at its current levels.