Call Genie's Stock Gets a Boost from AT&T Deal

Includes: CEENF, T
by: FP Trading Desk

Call Genie Inc. (OTC:CEENF) shares were up more than 8% Tuesday afternoon. This boost was the result of an announcement that the company made earlier in the day that it had entered into an agreement with AT&T (NYSE:T) in 9 U.S. states to provide Call Genie's enhanced voice directory [EVD] business category search product and related services.

According to a statement from Call Genie, AT&T directory assistance users will have the opportunity to search by type of business in addition to searching by business name as a result of the agreement.

Wellington West analyst Greg Reid called the deal a "very signficant win" for Call Genie, and conservatively estimates the deal will generate $1-million per year in sales across the nine states.

He reiterated his "buy" rating on the stock and left his C$2 price target unchanged.

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