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Technology Stocks : All About Sun Microsystems
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To: QwikSand who wrote (62478)1/3/2005 12:52:58 PM
From: sixty2nds  Read Replies (1) of 64865
 
03-Jan-05 08:23 ET In Play Sun Microsystems downgraded at Bernstein, tgt $4.40 (SUNW) 5.39 : Bernstein downgrades SUNW to Underperform from Mkt Perform, saying the stock's 50% run-up since August appears to reflect expectations for notably stronger financial performance, based on improved IT spending and an upgrade cycle to Solaris 10. While firm's channel checks do suggest that overall IT spending is fairly strong in CY Q4, they say SUNW's quarter did not experience a material acceleration and they do not see upside to its 2Q05 rev est. Moreover, while they applaud SUNW's effort to reinvent itself and its numerous new initiatives, firm simply does not see enough evidence among leading financial indicators to warrant holding SUNW at current levels.
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