Business Services Industry
Montgomery Securities Initiates Coverage of National Education Corporation with a BUY Rating
Business Wire, May 2, 1996
SAN FRANCISCO--(BUSINESS WIRE)--May 2, 1996--Montgomery Securities Analyst Michael Moe has initiated coverage of National Education Corporation (NASDAQ: NEC) with a BUY rating.
Moe expects the company to earn $0.60 per share in Fiscal Year (December) 1996 and $0.80 per share in Fiscal Year 1997. His 12-18 month target price is $24, or 60% above current levels.
National Education Corporation provides training and educational services through three separate operating entities: ICS Learning Systems, which offers distance education in vocational, academic and professional studies; Steck-Vaughn Publishing, one of the largest publishers of supplemental educational materials; and National Education Training Group, which offers information technology training to IT professionals via interactive multimedia products, including the rapidly growing Computer-based Training (CBT) channel.
Moe's BUY rating is based on his belief that National Education's portfolio of three companies uniquely positions it to take advantage of multiple growth opportunities within the education and training industry.
CONTACT: Montgomery Securities
Michael Moe, 415/627-2688
Elizabeth Snowdon, 415/627-2747
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