NewMarket Technology, Inc. 'Buy' Rating and PPS Increase to $0.32 Potential on Way to Independent Analyst Recommended $1.47 Target Presented in On-Demand Webcast
DALLAS, TX--(Marketwire - February 23, 2010) - NewMarket Technology, Inc. (PINKSHEETS: NWMT)
today released an on-demand Webcast presentation to review an independent
analyst report released yesterday with a 'buy' rating and $1.47 target
price per share (PPS). The Webcast agenda includes a review of the
valuation method and a discussion of potential intermediate share price
achievements, to include breaking through the
30-day moving average and reaching the
200-day moving average of $0.32 PPS. The Webcast also features a review
of the independent analyst highlights on NewMarket Technology, Inc.
Greenfield Partners NuMobile, Inc. (OTCBB: NUBL), Alternet Systems, Inc.
(OTCBB: ALYI) and Nova Energy, Inc. (OTCBB: NVAE).
A link to the Webcast titled 'Analyst Report Webcast - 'Buy' Rating and
$1.47 Target PPS' is available here
http://www.newmarkettechnology.com/wcar_20100223.htm. A link to the Webcast
is also available on the homepage and Investor Relations page of the
NewMarket website at www.newmarkettechnology.com.
The independent analyst who conducted the report is a Certified Financial
Analyst (CFA) in accordance with the CFA Institute Code of Ethics and
Standards for Professional Conduct. The analyst has previously conducted
research for a number of Western European and North American financial
institutions, including Janney Montgomery Scott. NewMarket engaged the
analyst and paid for the services prior to any recommendation rating or
price target to ensure objective research.
To review the report, please visit the Investor Relations section of the
Company website at www.newmarkettechnology.com. A direct link to the
report is http://www.newmarkettechnology.com/nwmtreport_20100222.htm.
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About NewMarket Technology, Inc. (http://www.newmarkettechnology.com/)
NewMarket is a reporting company with audited financial reports filed with
the SEC. NewMarket provides systems integration, technology infrastructure
services and emerging technology worldwide. NewMarket has a focus on
providing technology and support services to rapidly growing economies
where technology purchasing is on the rise. In addition to its base of
operations in North America, NewMarket has operations today in the growing
economies of China, Southeast Asia, Brazil and Northern Latin America. Last
year the Company reported over $40 million in revenue from Asia and over
$20 million in revenue from Latin America. Overall, NewMarket reported over
$95 million in revenue for 2008.
Across the globe, NewMarket is a Microsoft and Oracle partner, distributes
various computer hardware and peripherals from brand partners such as Dell,
HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized
reseller of operating systems and various software from companies such as
Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company
works with emerging technologies such as mobile computing, various security
and wireless broadband technologies. NewMarket's rapid growth since 2002
has placed the Company on the Deloitte Technology Fast 500 for 5
consecutive years. NewMarket was recognized as the third fastest growing
technology company in the United States in 2006 and the number one fastest
growing technology company in North Texas for two years in a row.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause NewMarket's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making