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November 24, 2004
New life for Computer Associates
The executives of Long Island-based software maker Computer Associates are attempting to shrug off a multi-billion-dollar accounting scandal and move on with life. The company's newly-appointed president and CEO discussed the company's strategic agenda in a press conference on Tuesday, emphasizing that acquisitions will power the company's growth engine in the near-term future: "My bias will be, frankly, to look for early ways of entering a market even with relatively undeveloped or immature technology teams or even immature market and sales teams..."
Wall Street seems to like the story -- and the fact that the new CEO is a long-time IBM veteran. Several Wall Street analysts have already set a $35 price target for the company's stock, which is currently selling around $30.
+ TrackBacks (0) | Category: Software
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