March Networks "hold," target price reduced

05/28/08 - Canaccord Adams

NEW YORK, May 28 (newratings.com) - Analysts at Canaccord Adams maintain their "hold" rating on March Networks Corp (M8N), while raising their estimates for the company. The target price has been reduced from C$6 to C$5.

In a research note published yesterday, the analysts mention that the company has reported its preliminary 4Q sales short of and losses before tax higher than the estimates. March Networks has issued its sales guidance for FY09 at C$100-C$115 million, short of the consensus. The EPS estimate for FY09 has been raised from -C$0.12 to -C$0.07 to reflect the Cieffe takeover.