Dutton Associates Announces Investment Opinion: Paulson Capital Strong Buy Rating Maintained in Updated Coverage by Dutton Associates.EL DORADO El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. HILLS, Calif. -- Dutton Associates updates its coverage of Paulson Capital Corporation (Nasdaq:PLCC (Plastic Leaded Chip Carrier) A plastic, square, surface mount chip package that contains leads on all four sides. The leads (pins) extend down and back under and into tiny indentations in the housing. See chip package. ), maintaining a Strong Buy Rating and a price target of $8. The 11-page report by Dutton senior analyst Richard W. West Richard W. West was the mayor of Newport News, Virginia from 1932 to 1936. Preceded by Harry Reyner Mayor of Newport News 1932–1936 Succeeded by B. G. James , CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals Financial Portal A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. . In our April 5, 2006 Research Note, we increased the rating of Paulson Capital Corporation (PLCC) to a Strong Buy and increased the 12-month price target to $10.00 per share. On November 21, 2006, with the release of the third-quarter and nine-months results, we maintained our Strong Buy rating; however, we lowered our 12-month price target to $8.00 per share. At this time, we reiterate re·it·er·ate tr.v. re·it·er·at·ed, re·it·er·at·ing, re·it·er·ates To say or do again or repeatedly. See Synonyms at repeat. re·it our Strong Buy rating and 12-month price target of $8.00 per share. The current market price of Paulson Capital's common stock is below the stated book value of $5.44, as of September 30, 2006. Paulson Investment Capital's (PIC (1) (Programmable Interrupt Controller) An Intel 8259A chip that controls interrupts. Starting with the 286-based AT, there are two PICs in a PC, providing a total of 15 usable IRQs. ) third stock offering of 2006, ICOP Digital (Nasdaq:ICOP) was completed on October 19, 2006. Paulson Capital's operating results for the three months and nine months ended September 30, 2006, were negatively affected by the weak market in small to mid-size cap stocks. However, with a recovery in the stocks being held in Paulson's investment account and the fee income from the ICOP Digital Inc. offering that was completed on October 19, 2006, Paulson's results in the fourth quarter and the FY2006 could improve. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $39,500 prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. for 4 Research Reports, typically published quarterly, and requisite Research Notes. We received $27,000 from the Company for 4 Research Reports with coverage commencing on 10/21/2005. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
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