Topeka Capital Markets Reiterates Buy Rating, $41 PT on Verisign

In a report published Friday, Topeka Capital Markets reiterated its Buy rating and $41.00 price target on Verisign VRSN. Topeka Capital noted, “With just a few days left in 4Q, VRSN .com/.net adds are tracking to the high end of the 900K-1.3mm guidance. Looking forward, 2013 will also mark the commercialization of new Internationalized Domain Names (IDNs) and generic Top Level Domains (gTLDs). VeriSign will be very active on both initiatives having applied for 12 IDNs and being involved in over 200 gTLD applications. Our report includes an update on the process with ICANN. We reiterate our Buy rating and $41 price target.” Verisign closed on Thursday at $38.12.