Credit Suisse First Boston Announces Investment Opinion on Siebel Systems; Credit Suisse First Boston Initiates Coverage of Siebel Systems With a Strong Buy Rating.PALO ALTO--(BUSINESS WIRE)--Dec. 1, 1999-- Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. Technology Group analysts George Gilbert and Brent Thill thill n. Either of the two long shafts between which an animal is fastened when pulling a wagon. [Middle English thille, perhaps from Old English, plank.] Noun 1. initiated coverage today of Siebel Systems (SEBL SEBL Siebel Systems, Inc. (stock abbreviation, AMEX) ) with a Strong Buy rating. Gilbert and Thill have set their EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. estimates for FY99 and FY00 at $0.50 and $0.64, respectively. SEBL has the opportunity to lead the traditional customer relationship management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ) market beyond coordinating cross-channel customer contacts, believe Gilbert and Thill. CRM is becoming a much larger market that manages the process of acquiring, cultivating, and retaining customers. "For the near and intermediate term, SEBL's growth is distribution capacity-constrained, but a massive commitment of resources on IBM's part may add more than 1/3 to that capacity starting next year," wrote Gilbert and Thill. "Oracle may emerge as a strong entrant, but it's difficult to envision a scenario where it is more than a strong No. 2." With expanding share in customer-facing applications, most of its rivals trading at 30-100X CY00 revenue vs. SEBL at 15X, and accelerating internal expansion as a leading indicator, Gilbert and Thill see significant potential upside to expectations and valuation. Given current market volatility, however, they are not using a price target. Credit Suisse First Boston is a leading global investment banking firm, providing comprehensive financial advisory, capital raising, sales and trading, and financial products for users and suppliers of capital around the world. It operates in over 60 offices across more than 30 countries and has over 14,000 employees. For the year ended December 31, 1998, CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank had $6.7 billion in revenues, $7.1 billion in equity and $291 billion in assets. The Firm is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Zurich-based Credit Suisse Group. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. |
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