Sanford Bernstein analyst says........
by: skeptically 03/11/02 02:40 pm
Msg: 276373 of 276400
Can you ever, ever trust the sell-side analysts???
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
MARKET TALK: Add To H-P Under $18, And Be Patient
03/11 2:06 PM (DJ)
Story 4949 (CPQ, HWP, IBM)
Edited by Thomas Granahan
Of DOW JONES NEWSWIRES
(Call Us: 201 938 -5299; All Times Eastern)
MARKET TALK can be found using code N/DJMT
2:05 (Dow Jones) In its IBM note, Sanford Bernstein also says it doesn't expect a material rebound in IT spending until late in the second half of 2002. But analyst Toni Sacconaghi notes Hewlett-Packard (HWP) is trading at an "attractive valuation" and advises adding at or below $18 a share, though he notes H-P stock is "dead money" over the next 6 to 9 months due to the uncertainty surrounding the Compaq (CPQ) deal. H-P up 35 cents to $20.97. (MLP)<<
>>1:28 (Dow Jones) Sanford C. Bernstein downgrades IBM to market perform from outperform, saying there's unlikely to be much upside in Big Blue's stock over the next 1 to 3 quarters. Analyst Toni Sacconaghi says its global services unit will be weaker than most investors expect, its valuation isn't cheap, and the debate about its EPS growth outpacing revenue growth will continue - even after IBM releases it 10 -K later today. IBM down $1.01 to $104.08. (MLP)<< |
