DENVER, Oct. 9 /CNW/ -- Shonstrom Research Associates analyst Michael
Shonstrom has initiated coverage of ID Watchdog, Inc. (IDW - Toronto Venture
Exchange) with a Speculative Buy rating and a $1.40 price target. ID Watchdog,
a Denver based company, has established what Shonstrom believes is a "best of
breed" identity theft protection service for consumers, which includes
monitoring the most comprehensive set of personal information databases while
offering a straightforward dispute resolution process.
The fraud protection market has grown rapidly to nearly $3.0B since the
passage of Fair Credit legislation five years ago with many new entrants
including the 3 major credit report agencies. An early leader, LifeLock, which
has a narrowly focused product, has been the target of lawsuits over product
claims. This has created an opportunity for ID Watchdog.
A recent IPO raised $10.2m to fund advertising and Shonstrom is
estimating $6.1m in revenues for 2008 increasing to $24.0m in 2009. The
company is expected to turn profitable in Q4 2009.
Shonstrom Research Associates, LLC is an independent research company
established in 2000 focused on the early discovery of micro and small cap
This release is from Shonstrom Research Associates, which provides
proprietary research to NASD firm PCS Securities, Inc. CRD # 23734, a
correspondent of Bear Stearns Securities Corp.
For further information:
For further information: Michael Shonstrom, President of Shonstrom
Research Associates, LLC, +1-303-321-2392