25.05.2004

transtec accumulate
AC Research: kaufen

The analysts of AC Research reiterate their "accumulate" rating on the shares of transtec AG (ISIN DE0007241424/ WKN 724142), a vendor of Unix and Windows computer- and memory-systems for professional industry and trade users, the public sector and research institutes.

Yesterday, transtec AG announced the takeover of 44% of newly founded Lapistor Ltd. The United Kingdom based company will continue the previous businesses of Lapis Solution Ltd. The company develops and produces RAID-systems based on different controllers and posses a broad portfolio of RAID-Systems with SCSI- und FC-Host-connectors which support established hard drive interfaces SATA, U320 and FC. The company is going to supply OEM-customers with RAID systems and proprietary technology.

The experts of AC Research consider this a reasonable investment, as it will enable transtec AG to expand their value-added chain as an IT service provider. In addition, transtec AG acquire new technological expert ise this way. Thus, the company will be able to secure its market position.

At the current share price of 5,00 EUR, the company reaches a market capitalization of just under 19 Mio. EUR. Therefore, the analysts of AC Research continue to consider the share a bargain. In the past financial year, transtec AG achieved a turnaround with pre-tax earnings of 0.2 Mio. EUR. In the tow of further operative improvements and a slight rebound of the market environment, a positive income after taxes appears possible.

Thus the analysts of AC Research continue to rate the shares of transtec AG as "accumulate".

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