Compaq Message Board - Msg: 15855535

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Technology Stocks : Compaq

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To: John Koligman who wrote (91388)	5/25/2001 3:48:30 PM
From: Elwood P. Dowd	Read Replies (1) of 97611

MERRILL LINCH VERY POSITIVE ON MSFT by: dm12345as 05/25/01 02:36 pm EDT Msg: 236682 of 236687 Blodget positive on Microsoft By Julie Rannazzisi Microsoft (MSFT) lost 1 percent to $71.06 while the Goldman Sachs Software Index ($GSO) shaved 1.8 percent. Merrill Lynch analyst Henry Blodget said the software behemoth continues to perform well, with investors 'focusing on five reasons to own the stock: accelerating revenue and earnings-per-share growth, new product releases, a potential bottom in the PC cycle, fundamental strength relative to other tech bellwethers and a potentially more favorable regulatory environment. Blodget said he remains comfortable with second-quarter estimates of $6.5 billion in revenue -- a 13 percent year-over-year increase -- and earnings-per-share of 43 cents. Merrill also maintained its long-term EPS growth rate estimate of 10 percent. "At $71, the stock is trading at 35 times 2002 earnings-per-share of $2.00. We view this as a high multiple relative to the growth rate, but we believe near-term catalysts could cause additional multiple expansion," Blodget told clients.

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