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Technology Stocks : Compaq

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To: James Cotton who wrote (21684)	3/13/1998 3:35:00 PM
From: Maverick	Read Replies (1) of 97611

CPQ downgrades * Bear Stearns said it kept its buy ratings on shares of COMPAQ COMPUTER CORP and DELL COMPUTER CORP after Compaq said late Friday 1Q earnings would be far below what Wall Street was expecting. Also, Cowen & Co said it lowered its rating on Compaq to buy from strong buy. Salomon Smith Barney lowered its rating on shares of DELL COMPUTER CORP, market sources said. (Reuters 08:28 AM ET 03/09/98) * Credit Suisse First Boston said it lowered its 1998 earnings estimate and price target on COMPAQ COMPUTER CORP. Credit Suisse removed Compaq from its Focus List, but maintained its buy rating on the company. The 1998 earnings estimate went to $1.00 per share from $1.75. The target price went to $38 from $42. Also, SoundView Financial Group Inc said it lowered its 1998 earnings estimate on shares of Compaq to $0.74 per share from $1.71 per share but kept its short-term hold and long-term buy rating. Analyst Mark Specker lowers 1999 estimate to $1.59 per share from $1.88 per share. (Reuters 10:39 AM ET 03/09/98) * Merrill Lynch said it lowered its near-term rating on shares of COMPAQ COMPUTER CORP to neutral from accumulate but kept its long-term buy rating on the stock. Merrill cut Compaq 1998 earnings estimate to $1.38 per share from $1.80 per share. Prudential Securities reduced its 1998 earnings estimate to $1.00 per share from $1.55 per share, source at firm said. (Reuters 08:38 AM ET 03/09/98) * BancAmerica Robertson Stephens said it lowered its 1998 earnings estimate on shares of COMPAQ COMPUTER CORP to $0.60 per share from a range of $1.55 to $1.60 per share. Analyst Daniel Niles said lowered Compaq 1999 earnings estimate to $1.05 per share from a range of $1.85 to $1.90 per share, but kept long-term attractive rating on stock. Niles cuts DELL COMPUTER CORP fiscal 1999 earnings estimate to $3.30 per share from $3.55 per share. Dell fiscal 2000 estimate lowered to $4.15 per share from $4.50 per share. Keeps market perform rating on Dell. (Reuters 10:57 AM ET 03/09/98) * Deutsche Morgan Grenfell said it lowered its 1998 earnings estimate on shares of COMPAQ COMPUTER CORP to $0.85 per share from $1.70 per share but maintained its accumulate rating. Lowered 1999 earnings estimate to $1.35 per share from $2.05 per share. Also, Goldman Sachs said it lowered its 1998 earnings estimate on shares of Compaq to $1.00 per share from $1.63 per share, but maintained its recommended list rating on the stock. Lowered 1999 estimate to $1.75 per share from $2.05 per share. (Reuters 12:13 PM ET 03/09/98)

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