INX "buy," target price reduced

07/07/08 - Brean Murray, Carret & Co

NEW YORK, July 7 (newratings.com) - Analyst Peter Jacobson of Brean Murray maintains his "buy" rating on INX Inc (INXI), while reducing his estimates for the company. The target price has been reduced from $16 to $15.

In a research note published this morning, the analyst mentions that the company’s AccessFlow acquisition has expanded its presence in the virtualization market. The downward revision in the earnings estimates and target price reflects the impact of the proposed stock offering of 900,000 common shares to certain institutional investors at $11 per share, the analyst adds. The EPS estimates for FY08 and FY09 have been reduced from $0.86 to $0.84 and from $1.06 to $0.99, respectively.