VeriSign: Oppenheimer Upgrades; Sees Potential Big Buybackhttp://bit.ly/cnecBUVeriSign (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.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estima