BancBoston Robertson initiated coverage of online software store Beyond.com on Thursday. Wall Street didn’t get too excited, with the stock falling 7/8 to 32. But this really could be a good time to look at the stock.
BancBoston Robertson noted that “Beyond.com possesses solid first-mover advantages in addressing the attractive online software retail market, a category which we view as highly appropriate for online sales.”
What’s also notable is that Beyond.com, which recently completed the acquisition of competitor BuyDirect.com is branching out. On Thursday, the company agreed to build and maintain an online store for software company Symantec (Nasdaq: SYMC).