Intrinsyc Software International Inc ISYRF

revised target price/still good

[powder1]

Intrinsyc Software International "buy," target price reduced 12:12a.m. - MGI Securities NEW YORK, March 25 (newratings.com) - Analysts at MGI Securities maintain their "buy" rating on Intrinsyc Software International Inc (IN6). The target price has been reduced from $2.00 to $1.75. In a research note published yesterday, the analysts mention that the company has posted results for its transition period, with revenues ahead of and LPS higher than the estimates. Intrinsyc Software, however, seems on track to beginning to receive high margin royalty revenues starting 2H08, indicating that a gradual transformation into a software company, the analysts say. The downward revision in the target price reflects the recent share dilution on account of financing, MGI Securities adds.