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Wednesday, October 11, 2006 4:56:40 AM
10.10.06 | 21:33 By Omri Cohen
Oscar Gruss has upgraded Radvision (Nasdaq: RVSN) from Hold to Buy on assessments that videoconferencing will become more popular.
The review assuages fears of a possible earnings warning from the Israeli company.
Analyst Ehud Eisenstein gives the stock a $22 12-month price target, which is 19% above its present level on Nasdaq.
Radvision specializes in videoconferencing technology, including for cellular applications and PCs. Eisenstein had downgraded the company to Hold two years ago based on weakness in the company's core business, which is videoconferencing technology for conference rooms.
Sales of systems for conference rooms constituted 44% of Radvision's second-quarter sales, Eisenstein says, rising to $22 million. He foresees steep 21% growth in the third quarter and 29% growth in the fourth, compared with the parallel quarters of 2005.
For the year 2006 Eisenstein projects sales of $89 million, a 17.5% increase from the year before.
Checking with distributors showed a healthy business environment, he says, partly because of technological advances that make videoconferencing more efficient. Deployment has also increased, allowing better product pricing.
Radvision markets its videoconferencing technology in the U.S. via none other than Cisco Systems.
http://www.haaretz.com/hasen/spages/772864.html
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