From Briefing.com
07:52 VRSN VeriSign upgraded to Strong Buy at Raymond James (25.59 )
Raymond James upgrades VRSN to Strong Buy from Outperform and reiterates their $35 tgt, as they think the pendulum has now swung too far in the negative direction. With wireless data subscriber penetration around 10% worldwide, firm believes that the mkt is in the midst of an inflection point in sub growth and usage levels. Handsets, networks, software, and content are now in place to make data the next growth engine for the wireless industry, and central to that service is content. As such, firm says the time is now for investing in leading mobile content co's.
This is probabaly due to Verisign's acquisition of Jamba!
VeriSign said Jamba! will be integrated into its Communications Services Group, which provides network, database, billing, and content services to wireless and wireline subscribers.
In a statement, VeriSign said: "By adding Jamba!'s capabilities into its existing communication services platforms, VeriSign expects to be able to offer carriers a comprehensive wireless data utility that covers all aspects of the mobile content value chain. Functionality will include content on-boarding, aggregation, formatting, mediation, and a variety of billing and payment services."
I wonder, when cameraphones become ubiquitous, will the screen saver biz then die? Why would you pay for one, when you can take a picture and leave on your screen?
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