ORLANDO, Fla., April 30, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced it has initiated coverage on EnterConnect Inc. (OTCBB:ECNI), a company that provides integrated e-business solutions.
Ajay Mohan, MFM, RedChip Research Analyst, reported:
"EnterConnect focuses on delivering performance-based portal software and services that enable companies to increase top-line revenue, enhance business execution, and improve bottom-line profits, thus creating value for its customers."
"ECNI is leveraging strategic partnerships with technology industry leaders, BEA Systems and Oracle Corporation, to gain market share quickly. ECNI is also one of the few BEA partners selected to advise them on the design of their new Dynamic Application Platform," Mohan continued.
"ECNI seems to be at its inflexion point in its growth story as it builds its business around its suite of products and enterprise portal solutions on the SaaS model. Revenues are expected to keep growing on top of a swelling subscription base. We are initiating coverage of ECNI with a 'Speculative Buy' recommendation and a 12-month target price of $1.76," he concluded.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for EnterConnect Inc., visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=100&from=04292008pr
To hear RedChip Real Radio broadcast interviews featuring EnterConnect, visit http://www.redchip.com/visibility/Radio/radioMain.asp?page=archive.
To learn more about EnterConnect, visit http://www.redchip.com/visibility/investor.asp?symbol=ECNI.
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Disclosure:
Information contained in this research report is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. EnterConnect, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $36,000 for RedChip Visibility Program services, which included the preparation of this equity research report. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. EnterConnect, Inc. agreed to pay RedChip Companies, Inc., a fee of $10,000 in cash per month and 130,000 equivalent shares of common stock under Rule 144 for twelve (12) months of these services. This report is not a recommendation of a solicitation to purchase or sell any security, nor does it constitute investment advice.