NEW YORK, Oct. 30, 2003 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:
Technology analyst Gareth Tingling of Investrend Research affiliate eResearch, issued two updates on OnX Enterprise Solutions Inc. (TSE:ON), maintaining his "Speculative Buy" rating and $0.50 target price.
In the Quarterly Report, which is free for a limited period of time on eResearch's website www.eresearch.ca and at http://www.investrendresearch.com, the analyst noted that: "OnX management continues to successfully navigate its way through a period of relatively poor demand. Management is trying to transition the business from the highly transactional (and unpredictable) hardware-reselling business to the more predictable and profitable managed services business."
The analyst added that: "the Hardware and Software business is a source of cash for OnX's other divisions as well as the foundation for many of the long-standing relationships that OnX has with some of its hardware suppliers. Such relationships have helped the Company earn the privilege of sub-contracting services for the mid-market under the aegis of at least one supplier-partner. Such an arrangement should help the Company to penetrate the Canadian mid-market for professional services and managed services (a growth area), while benefiting from the brand (and operations) halo of its supplier partners."
The company's website is at www.onx.com
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