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Technology Stocks : Compaq

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To: Elwood P. Dowd who wrote (94189)	12/12/2001 11:15:13 AM
From: Night Writer	Read Replies (1) of 97611

RESEARCH ALERT-Morgan Stanley cuts Compaq price tgt NEW YORK, Dec 12 (Reuters) - Morgan Stanley said on Wednesday it cut its price target on Compaq Computer Corp. <CPQ.N> to $15 from $24. "We think Compaq may be one of the more interesting stories in our group in the near term," the brokerage said in a research note. "We met with Compaq executives in storage and industry standard servers and both appear to be making positive progress." Channel checks indicate that sales are tracking to its estimate of a 3 percent quarter over quarter increase, Morgan said. Compaq said it is planning for a future without Hewlett-Packard Co. <HWP.N> even as Compaq backs the proposed $23.6 billion merger. HP's largest shareholder said on Friday it would vote against the merger. Shares of Compaq closed at $9.49 on the New York Stock Exchange on Tuesday. ((--New York Equities Newsdesk, (646) 223-6000)) REUTERS * end of story *

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