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Technology Stocks : Cloud, edge and decentralized computing
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To: Glenn Petersen who wrote (727)8/17/2011 1:05:37 PM
From: stockman_scott   of 1685
 
17-Aug-11 07:00 ET In Play Oppenheimer cuts tgts/ests across tech./enterprise software coverage to reflect the slowing worldwide economy (25.35 ) : Oppenheimer is lowering EPS and rev ests and price targets across their coverage universe to reflect the slowing worldwide economy. While almost all of the software vendors at Oppenheimer's Tech Conference last week indicated they have not seen a change in demand, they note software cos are often the last impacted by a slowing environment as ~50% of new sales close in the final few weeks of a quarter. As a result, they are being proactive in accessing the impact that slower worldwide GDP growth could have on their names. That said, they believe we are still in the very earliest stages of the shift to Cloud-based computing and that this should serve as a secular tailwind for the group, especially small and mid-sized players, for years to come. In large cap they prefer ORCL; mid: INFA and TDC and small: HCM. Firm cuts following targets: CNQR to $44 from $60; CTCT to $26 from $40; INFA to $57 from $63; KNXA to $30 from $34; MCRS to $50 from $58; MSFT to $32 from $36; ORCL to $33 from $38; RHT to $47 from $55; SREV to $22 from $23; SFSF to $32 from $37; TLEO to $34 from $41 and TDC to $61 from $65.
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