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Technology Stocks : Corel Corp.

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To: Skye who wrote ()	9/22/1999 7:08:00 AM
From: mark	of 9798

Corel Corp CORL upgrade by Merrill Lynch - from LT Neutral to LT Accum.... "We expect improvements in operating margins should carry through in future quarters. Increasing FY00 EPS est. to $0.38/share from $0.34/share. ú Upgrading longer-term opinion to Accumulate from Neutral as sustained improvement in operating model, and improved cash position bode well for future viability. ú Corel story remains one of profitability from existing, mature, low-growth product lines. ú Linux angle remains a big variable. Has potential, but revenue model still far from complete, let alone proven. Large-scale corporate takeup of Linux on desktop remains questionable. New competition for productivity applications access (i.e. hosted) means future of consumer Linux apps is in question. But Corel remains a legitimate Linux play and will likely continue to trade with appropriate levels of Linux speculation." If competition from ASP's is huge, then Corel will benefit from "renting" it's graphics packages and image editing tools...From a value standpoint, it seems odd that the no. 2 desktop software company should have a market cap of only 1% of the leader...

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