Flying pigs spotted
7:22AM Intel (INTC) 35.52: Salomon Smith Barney positive on INTC, believes that all indicators show that co had a strong finish to Q4, driven by solid P4 demand and modestly firmer pricing; higher revs should give a slight boost to gross margins, which should drive higher profits. Firm maintains Buy rating and raises Q4 rev/EPS ests to $6.98 bln/$0.12 from $6.8 bln/$0.10, raises 2002 EPS est to $0.70 from $0.65, and raises price target to $45 from $40.
7:59AM EMC Corp (EMC) 16.59: Banc of America positive on EMC, sees co at an inflection point and believes fundamentals are poised to improve over the next few qtrs; says environment looks firmer and that resellers such as DELL and BELM are incrementally benefitting sales. Firm believes key to co's success will be in changing to more of a software and services play. Maintains Buy rating, raises 2001 est to $0.03 from $0.01, raises 2002 to ($0.10) from ($0.15), and raises price target to $20.
:02AM EDS (EDS) 64.45: JP Morgan adds to Focus List, sees co beating Q4 ests and entering 2002 with strong momemtum; believes investment spending should start to moderate, leading to accelerating cash flow and better working capital mgmt. Maintains Buy rating and $80 target price.
:17AM Red Hat (RHAT) 7.10: While most analysts who cover the stock are still bearish, at least one "gutsy stock-picker" says co's collaboration with IBM signals that Red Hat has longevity, reports Business Week. Contrarian Bernie Schaeffer of Schaeffer's Investment Research issued a special bulletin to his newsletter subscribers recommending Red Hat, which he thinks could trade at $20 in a year. |
