Investment bank Salomon Smith Barney estimates 2002 will be an exciting year for TTI Telecom International (Nasdaq:TTIL), in a report it prepared on the share.

Exciting could mean negative, but in the case of the Rosh Ha'ayin based company, the bank means nothing but positive developments.

Analysts Victor Halpert and Robin Nazarzadeh base these rosy forecasts on the fact the average size of a TTI deal has risen, and that the company's status is improving through its tightened connections with IBM (NYSE:IBM). The bank also predicts continued prosperity for TTI as it gains momentum in the NMS (Network Management System) and OSS (Operation Support Systems) market.

"In view of these estimates we believe our forecasts for 2002 may end up too conservative," they say at Salomon. The analysts today expect a profit of $1.38 for the share in 2002, up 20 cents from $1.18 in 2001.

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The new target price is 21% higher than the share's current price
The bank makes similar estimates for the share in Q4 2001. It forecasts revenues in that quarter will total $16.5 million, compared with $16 million in Q3. On the bottom line they expect a 32 cents EPS, unchanged from the previous quarter.

Salomon predicts further that the company will remain true to its tradition of surpassing analysts forecasts, a tradition it has lived up to since it went public. TTI was first issued on the Nasdaq in December of 1996, about five years ago. The issue yielded it $17.7 million based on $6.6 per share. In another issue in February 1999, the share managed to raise another $9.1 million.

In March of 2000 TTI issued in the initial market once again, this time it was stocks worth $57.5 million, according to no less than $34.9 per share. In the end of Q3 there were $49.5 million filling its till.

"We believe TTI will surpass analysts forecasts fro the 20th time in a row once its Q4 results are posted" said the investment bank, as it hiked its target price to $34 from the previous $27 following the share's 8% climb since the beginning of the year.

The share's climb of 5.4% to $28 posted today, takes it to its highest level since September of 2000, 16 months ago.