MDB Capital Initiates Research Coverage with "Buy" Rating and
Target Price of $9.75 LENEXA, Kan., Jan. 8 /PRNewswire-FirstCall/
-- ICOP Digital, Inc. (NASDAQ:ICOP)(NYSE:ICOP), an industry-leading
company engaged in advancing digital surveillance solutions, today
announced that MDB Capital Group, LLC today initiated research on
ICOP with a buy rating and a target price of $9.75. In addition,
Capital Growth Financial, LLC (CGF) issued an investment update
raising its 12-month price target from $6.00 to $7.75. Jon R.
Hickman, Vice President of Equity Research at MDB Capital Group,
stated, "With revenues expanding year over year at triple digit
rates and increasing visibility in the law enforcement community,
we feel ICOP is on a path to quickly become a much larger company.
By 2008, we anticipate revenues of $24 million and cash earnings of
$0.45 per share. Given this growth potential, we are initiating
coverage of ICOP Digital with a buy rating and a target price of
$9.75." Jeffrey B. Little, Senior Analyst at CGF, noted, "We
continue to estimate revenues of $20 million for 2008. However,
given the momentum of business very recently, we now have greater
confidence in the anticipated revenue stream and profitability for
the quarters immediately ahead. While our long- term price
objective remains the same ($10.00 for 2008, which is 40 times our
$0.25 EPS estimate), this stock's discounted value, still at a 25%
rate, now suggests a 12-month price target of $8.00. Combining this
with our technical work, we are currently projecting a $7.75 price
target for the end of this year." For more information on how to
access these reports, please contact Elite Financial Communications
Group at 407-585-1080 or via email at . The opinions expressed in
the MDB Capital Growth Initiation Report and Capital Growth
Financial Investment Update on ICOP Digital, Inc. are those of the
analysts and not of ICOP Digital, Inc. ICOP does not accept
responsibility for the accuracy of any of the information contained
in this report. For information provided by ICOP with respect to
its business and business prospects, as well as the risks
associated with an investment in ICOP's stock, please see the
Company's reports filed with the Securities and Exchange
Commission, copies of which are available at http://www.sec.gov/
and also on the Company website at http://www.icop.com/. MDB
Capital Group Disclaimer: The analyst(s) whose name appears with an
* on the front page of this report (*Jon R. Hickman) certifies that
the views expressed herein accurately reflect the analyst's
personal views as to the subject securities and issuers, and
further certifies that no part of such analyst's compensation was,
is, or will be, directly or indirectly, related to the specific
recommendations or views expressed in the report. The Analyst of
this report holds a financial interest in the equity securities of
this company. Closing price of last business day immediately prior
to the date of this publication. The analyst(s) responsible for
this research report has received and is eligible to receive
compensation, including bonus consideration, based on MDB Capital
Group LLC's ("MDB") overall operating revenues, including revenues
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for securities it covers: Buy, Neutral and Sell. MDB instituted the
above three tiered rating system in May 2003. MDB stock ratings are
defined as follows: Buy: the stock is expected to outperform the
market by 15 or more percentage points; Neutral: the stock is
expected to perform in line with the market, plus or minus 5
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market by 15 or more percentage points. The current distribution of
MDB's rating is as follows: Buy = 90.5%, Neutral = 9.5% and Sell =
0.0%. The percentage of issuers in each of three tiered rating
categories to which MDB has provided investment banking services in
the past 12 months is as follows: 15.8% of Buy Rated Companies; 0%
of Neutral Rated Related Companies and 0% of Sell Rated Companies.
These percentages are accurate as of midnight on November 30, 2006.
CGF DISCLAIMER: CGF or its affiliate(s) managed or co-managed a
public offering of securities for the subject company in the past
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or guarantee of future performance, and no representation or
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Information, opinions and estimates contained in this report
reflect a judgment at its original date of publication by CGF and
are subject to change without notice. The price, value of and
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to the accuracy of those estimates and/or the research of other
sources. Additional information is available upon request. You may
request this information by writing to Michael Falken, Capital
Growth Financial, 225 Northeast Mizner Boulevard, Suite 750, Boca
Raton, Florida 33432 or Jeffrey B. Little, 225 NE Mizner Boulevard,
Suite 750, Boca Raton, Florida 33432; or via email to or to , or
visit CGF's corporate website at
http://www.capitalgrowthfinancial.com/. About MDB Capital Group LLC
MDB Capital Group is a research driven investment bank providing
financial services to privately held companies and emerging growth
public companies, as well as institutional asset management firms,
mutual funds, hedge funds and high net worth individuals. Founded
in 1997, MDB provides the following professional services: Equity
Research, Equity Sales and Trading, Investment Banking, Fixed
Income Sales and Trading and Fixed Income Portfolio Management. MDB
is an NASD licensed broker-dealer and a member of the Securities
Investor Protection Corporation ("SIPC"). MDB conducts its sales
and trading activities in Santa Monica, California. MDB is a market
maker in selected NASDAQ securities. About Capital Growth
Financial, LLC Founded in 1995, CGF is a diversified financial
services firm which provides investment and merchant banking,
retail and institutional brokerage and proprietary research. For
more information, please visit
http://www.capitalgrowthfinancial.com/. About ICOP Digital, Inc.
ICOP Digital, Inc. is a Kansas-based company that delivers
innovative, mission-critical security, surveillance, and
communications solutions that provide timely and accurate
information for the public and private sectors, and monitor and
protect people, assets and profits. The ICOP Model 20/20 is the
leading digital in-car video recorder system for use by law
enforcement. ICOP Digital is currently marketing its solutions for
application in law enforcement, homeland security and defense, mass
transit and commercial surveillance. ICOP Digital, a GSA
contractor, is dual listed on the NASDAQ market and the NYSE Arca,
and its common stock and warrants trade under the ticker symbols
"ICOP" and "ICOPW," respectively. For more information, please view
a three-minute ICOP video presentation at
http://www.icopdigital.com/why_icop.html, or visit
http://www.icop.com/. Safe Harbor Statement This document contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements are
subject to risks and uncertainties that could cause actual results
to vary materially from those projected in the forward-looking
statements. The company may experience significant fluctuations in
future operating results due to a number of economic, competitive,
and other factors, including, among other things, our reliance on
third-party manufacturers and suppliers, government agency
budgetary and political constraints, new or increased competition,
changes in market demand, and the performance or reliability of our
products. These factors and others could cause operating results to
vary significantly from those in prior periods, and those projected
in forward-looking statements. Additional information with respect
to these and other factors, which could materially affect the
company and its operations, are included in certain forms the
company has filed with the Securities and Exchange Commission. For
more information, contact: Laura E. Owen, COO & President
Phone: (913) 338-5550 Fax: (913) 312-0264 For ICOP Investor/Media
Relations: Elite Financial Communications Group/Elite Media Group
Dodi Handy, President and CEO Phone: (407) 585-1080 DATASOURCE:
ICOP Digital, Inc. CONTACT: Laura E. Owen, COO & President of
ICOP Digital, Inc., +1-913-338-5550, or Fax, +1-913-312-0264, or ;
or Dodi Handy, President and CEO of Elite Financial Communications
Group-Elite Media Group, +1-407-585-1080, or Web site:
http://www.icop.com/ http://www.icopdigital.com/why_icop.html
http://www.capitalgrowthfinancial.com/
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