NEW YORK, March 14 (Reuters) - The worst may be over for Savvis Inc, a company that manages information technology for other companies and suffered recession-related losses in 2008 and 2009, according to Barron's.
The company's shift toward more profitable managed services should help Savvis leverage its 28 data centers and drive double-digit percentage revenue growth this year, the newspaper said, citing forecasts by Thomas Weisel Partners analyst Shane Larkin.
The business weekly, in its March 15 edition, said Larkin rates the stock 'overweight' and has a price target of $20 on shares. They closed on Friday at $17.74. (Reporting by Ransdell Pierson; editing by Gunna Dickson) (Reuters Messaging: ransdell.pierson.reuters.com@reuters.net; 646-223-6034; ransdell.pierson@reuters.com))
Keywords: SAVVIS/
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The company's shift toward more profitable managed services should help Savvis leverage its 28 data centers and drive double-digit percentage revenue growth this year, the newspaper said, citing forecasts by Thomas Weisel Partners analyst Shane Larkin.
The business weekly, in its March 15 edition, said Larkin rates the stock 'overweight' and has a price target of $20 on shares. They closed on Friday at $17.74. (Reporting by Ransdell Pierson; editing by Gunna Dickson) (Reuters Messaging: ransdell.pierson.reuters.com@reuters.net; 646-223-6034; ransdell.pierson@reuters.com))
Keywords: SAVVIS/
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.