| QUOTE (by Mark Veverka) |
| Summary: The action in enterprise software has moved to the middle-market, serving customers with anywhere from $250 million to $1 billion in annual revenues. Little-known Lawson Software is the #3 publicly held enterprise resource-planning vendor in the world (behind Oracle Corp. and SAP AG ADR) . . . Consensus EPS estimates for F07 are $0.16, and $0.33 F08. Shares, about $9, up from a 52-week low of $5.39 last July, trade at about 2x annual sales, vs. 4x for SAP and 5x for Oracle. Goldmacher says they still have a ways to go; his target is $14. |