A money manager in New York sees a bright year ahead for NAPCO Security Systems Inc., saying he expects the company’s stock to rise to $25 by the end of the year. Neal Goldman of Goldman Capital Management Inc. says in an article in Barron’s magazine that the electronic security company is benefiting from previous research spending and an overhaul to its sales network.
Upon the Sunday publication of the article, NAPCO’s stock rose 15 percent Monday.
Goldman says NAPCO devoted a good portion of its spending to research and development in 2003 that is paying off in 2004. He also cites NAPCO’s current multiyear exclusive pact to manufacture the Safewatch EZ home security product for ADT Security as a profit-builder for the company.
