FalconStor Software "buy," target price reduced

04/22/08 - Canaccord Adams

NEW YORK, April 22 (newratings.com) - Analysts at Canaccord Adams reiterate their "buy" rating on FalconStor Software Inc (FALC). The target price has been reduced from $16.76 to $13.13.

In a research note published yesterday, the analysts mention that the company is likely to post its March quarter revenues short of and EPS in-line with the consensus. Improved channel distribution, along with ramping revenues at major OEMs, such as EMC, Sun and IBM, are likely to boost FalconStor Software’s growth going forward, the analysts say.