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Stock Watch: Transaction Systems Flies High After Upgrade

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Stock Watch: Transaction Systems Flies High After Upgrade

By Nora Macaluso & Andy Wang
E-Commerce Times
Part of the ECT News Network
02/25/00 12:00 AM PT


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Shares of e-commerce software company Transaction Systems (Nasdaq: TSAI) soared 43.7 percent on Thursday, thundering ahead 12-1/8 to 39-7/8 after Credit Suisse First Boston upgraded the stock to strong buy from buy. The investment firm has a $60 price target on Transaction Systems, which develops electronic payment/funds transfer solutions.

Credit Suisse First Boston believes that Transaction Systems will unlock shareholder value by spinning off its online banking assets. Whether that scenario happens or not, Transaction Systems could be an attractive Internet infrastructure play. Online banking is still an early-stage business with potential for major growth, and Transaction Systems should benefit greatly as the market expands.

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