[June 30, 2004] Deutsche Bank Securities' Analyst Brandt Sakakeeny Initiates Coverage of Information Technology Services Sector NEW YORK --(Business Wire)-- June 30, 2004 -- Analyst Believes IT Services Industry is Embarking on a Multi-Year Expansion Deutsche Bank Securities Inc. Business and IT Services analyst, Brandt Sakakeeny, launched coverage of the following four companies within the Information Technology (IT) Services sector: Accenture (NYSE: ACN), Affiliated Computer Services (NYSE: ACS), Computer Sciences Corp. (NYSE: CSC), and SunGard Data Systems (NYSE: SDS). "Historically, investors have looked at technical innovations as indicators to drive group fundamentals and accorded too little credit to the economy," said Brandt Sakakeeny. While qualitatively logical, the Business and IT services team's analysis demonstrates that GDP and IT spending are highly correlated - even more than GDP and employment stocks. "Innovation is important. It serves to soften or exacerbate cycles but does not replace them," added Sakakeeny. "It is our view that after the excesses of the 1990s, when there was too much technology for technology's sake, the current period will be characterized by technology for business's sake," said Brandt Sakakeeny. Customers' technology fatigue has shifted their attention to projects that provide measurable return on investment (ROI). For this reason, Sakakeeny believes that IT services will capture a greater share of technology spending over the next several years. This should create a surge of opportunity for Business Process Outsourcing (BPO) and IT outsourcing (ITO) vendors - especially those with deep industry expertise. Although Sakakeeny is optimistic, he warns that some risks include an economic slowdown, geopolitical uncertainty, accounting complexity, and unprofitable contracts, among others. About Deutsche Bank With roughly Euro 878 billion in assets and approximately 66,900 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private & business banking franchise in Germany and other selected countries in Continental Europe. Deutsche Bank Securities Inc. is the investment banking and securities arm of Deutsche Bank AG in the United States. www.deutsche-bank.com [ Back To TMCnet.com's Homepage ]