August 30, 2004
SpeculatingStocks.com Stock Pick: VeriSign, Inc. (VRSN)
Stock Price: $22.00 (long-term strong buy)
VeriSign, Inc. operates intelligent infrastructure services that enable businesses and individuals to find, connect, secure, and transact across global networks. Company technology is being enabled for VoIP and RFID billing needs.
Since April 5th, VRSN has received three buy ratings, an outperform, overweight, and positive rating. Now, VRSN is at a ten month low and a perfect time to accumulate for a run back above $30 within the near term.
VeriSign is a well established company and should not be this low with several opportunities for growth including VoIP and RFID secure billing. The company is also buying back $500 million worth of its own shares.
SpeculatingStocks.com Target Price: We expect VRSN to reach $32.00 within the next 2-4 months.