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Technology Stocks : All About Sun Microsystems - News Only

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To: PHILLIP FLOTOW who wrote (23)	10/29/1999 10:36:00 AM
From: PHILLIP FLOTOW	of 36

10/29 10:17A (DJ) DJ Prudential/Sun, IBM-2:Sees Y2K As Weight On Shrs>IBM SUNW NEW YORK (Dow Jones)--Prudential Securities Inc. started coverage of International Business Machines Corp. (IBM) and Sun Microsystems Inc. (SUNW) with an accumulate rating. Analyst Kimberly Alexy wrote in research reports that she didn't judge the stocks to be strong buys because there are "limited near-term catalysts for the sector until concerns surrounding the impact of (year 2000) are alleviated." Alexy set a 12-month price target of $115 on IBM, saying she expects revenue for Big Blue to grow 8% in 2000 and 10% in 2001. She set a 12-month price target of $119 for Sun Micro and projected 25% earnings growth over the next three years. She said the company's valuation "warrants some near-term caution." - Christopher Grimes, Dow Jones Newswires, (201) 938-5253 (END) DOW JONES NEWS 10-29-99 10:17 AM PHIL

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