Business Services Industry
Montgomery Securities Initiates Coverage of Anixter International with a BUY Rating
Business Wire, April 15, 1996
SAN FRANCISCO--(BUSINESS WIRE)--April 15, 1996--Montgomery Securities Analyst Al Tobia has initiated coverage of Anixter International (NYSE: AXE) with a rating of BUY.
Tobia expects the company to earn $1.00 per share in Fiscal Year (December) 1996 and $1.30 per share in Fiscal Year 1997. His one-year target price is $24, or 52% above current levels.
Anixter International, formerly Itel Corporation, is a leading value-added reseller of networking (LAN) and internetworking (WAN) products for voice, data, and video networks, as well as a distributor of electrical wiring and electrical power applications. The company's geographic markets include North America, Europe, Asia and Latin America. Anixter adds value by supplementing sales with comprehensive client support services, including design, diagnostics, and systems planning. Tobia believes that Anixter is well-positioned to benefit from the growth of the global networking market that is being driven by the industry-wide migration to switched technologies.
CONTACT: Montgomery Securities
Al Tobia, 415/627-2302
or
Elizabeth Snowdon, 415/627-2747
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