Intermap Technologies "market perform," target price reduced

05/07/08 - Janco Partners

NEW YORK, May 7 (newratings.com) - Analyst April Horace of Janco Partners maintains her "market perform" rating on Intermap Technologies Corp (I9T). The target price has been reduced from C$8.70 to C$6.

In a research note published yesterday, the analyst mentions that the company has announced the completion of data collection in Europe, ahead of the schedule. Revenues at Intermap Technologies’ contract services segment continue to be lumpy, the analyst says. There are no near-term catalysts for the company’s share price, Janco Partners adds.