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Zacks Analyst Blog Highlights: Ness Technologies, Accenture, IBM, Hewlett Packard and Computer Sciences Corporation
CHICAGO-(Business Wire)-March 28, 2008 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ness Technologies (Nasdaq: NSTC), Accenture Ltd. (NYSE: ACN), IBM (NYSE: IBM), Hewlett Packard (NYSE: HPQ) and Computer Sciences Corporation (CSC).
See the latest posts to the Analyst Blog:
http://www.zacks.com/blog/post_info.html?g=6
Here are highlights from Thursday's Analyst Blog:
Small-Player Ness Tech a Sell
Ness Technologies (Nasdaq: NSTC) is a small player in a challenging market for IT services. Outside the Israeli government market, the company faces intense competition from established players, such as Accenture Ltd. (NYSE: ACN), IBM (NYSE: IBM), Hewlett Packard (NYSE: HPQ), Computer Sciences Corporation (CSC) and others.
Although the company showed improved results in the fourth quarter, this is on the heels of three disappointing quarters, and we need to see further evidence of improvement before becoming more positive. Given this thesis, we maintain a Sell rating on NSTC shares with a six-month price target of $7.50.
Ness Technologies currently trades at a P/E of 9.1x our 2008 EPS estimate of $1.00, a significant discount to the industry. Although NSTC has grown at a rapid pace over the last few years based on its successful acquisition strategy, the company has posted inconsistent results, including Q207 and Q307, and we are concerned that backlog growth is slowing sequentially. Although Q4 was an improvement, the company has been too inconsistent to give us enough confidence for an upgrade.
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.
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