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Author: newsreporter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2276  
Subject: Upgrade Date: 7/7/2010 1:47 PM
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VeriSign: Oppenheimer Upgrades; Sees Potential Big Buyback

VeriSign (VRSN) shares are getting a boost from Oppenheimer analyst Shaul Eyal, who this morning raised his rating on the shares to Outperform from Perform, setting a $33 price target.

Eyal writes in a research note that the upgrade reflects better-than-expected trends in the domain name registration segment, margin expansion back on track with the sale of the company’s authentication business and the potential for a large share buyback. On the final point, he contends that the company could use most of the $1.28 billion in proceeds from the sale of the authentication unit to Symantec for an “aggressive” buyback.

Eyal raised his 2011 EPS forecast to $1.64, from $1.57.
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