Dutton Associates Covers MyECheck, Inc. (MYEC.OB) with “Speculative Buy” Rating and $3.25 Price Target
Source: http://Blog.QualityStocks.net/?p=14046Posted on Tuesday, December 9th, 2008 | In Small & Micro Cap
On October 14, 2008, Dutton Associates initiated coverage of MyECheck, Inc. with a “Neutral” rating. However, after the strong revenue and transaction growth that took place during the third quarter and nine months, as well as the further accelerated growth in October, the research bureau upgraded their rating to “Speculative Buy” with an initial price target of $3.25 a share.
MyECheck, Inc. is aggressively addressing opportunities made available by the recent passage of the Check Clearing for the 21st Century Act (Check 21). The company has the patented technology and infrastructure necessary to become a major force in the new Internet-based Check 21 payment process and has signed up an impressive cadre of alliances with Internet payment gateways, payments software and service providers for partnership and reseller opportunities.
Below are some of the many reasons Dutton Associates recommends MyECheck:
• The October 28, 2003 passed law, Check 21, has changed the entire pay-by-check and credit card environment.
• MyECheck has very quickly created internal and external infrastructure to take advantage of Check 21.
• MyECheck has established necessary partnerships with leading Internet payment gateways and payments software and service providers for partnership and reseller opportunities.
• MyECheck has begun to sign up individual commercial customers.
• MyECheck is a lean organization with only nine employees and three senior management personnel.
• MyECheck has achieved its current status with a minimal amount of capital outlay.
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