Message Font: Serif | Sans-Serif
No. of Recommendations: 0
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.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.