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Technology Stocks : All About Sun Microsystems

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From: amie333	3/29/2006 7:46:23 AM
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Sun Micro upgraded at Morgan Stanley; shares up in pre-open Print \| \| Disable live quotes By Tomi Kilgore Last Update: 7:24 AM ET Mar 29, 2006 NEW YORK (MarketWatch) -- Sun Microsystems (SUNW : Sun Microsystems Inc News , chart, profile, more Last: 5.03+0.04+0.80% 7:24am 03/29/2006 SUNW5.03, +0.04, +0.8%) was upgraded two notches to overweight from underweight at Morgan Stanley, citing the financial benefits from expected cost-cutting efforts. The network computing company's shares were up 3.4% at $5.20 in Instinet pre-open trading. Analyst Rebecca Runkle now expects the company to earn 8 cents a share in fiscal 2007 vs. prior forecasts of a loss of 10 cents a share. Runkle also established a $6 stock price target. "We view cost-cutting as the largest opportunity for Sun to improve financial performance and believe the company is set to announce a restructuring over the next 6 months," Runkle said.

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