Salomon Smith Barney raises target to $87-$95
RESEARCH ALERT - Computer hardware targets raised
Monday, May 11, 1998 01:37 PM
NEW YORK, May 11 (Reuters) - Salomon Smith Barney said Monday analyst John Jones raised target prices on server and enterprise hardware computer companies.
-- In a note provided by Salomon, Jones cited strong fundamentals, despite weakness in Asia, for the actions.
-- Said believed the group "is finally experiencing a (price to earnings multiple) expansion..."
-- Kept earnings estimates unchanged on the group.
-- Raised Hewlett-Packard Co (Nyse:HWP) target price to a range of $87-$95 per share. Said H-P had "the strongest fundamentals of the group."
-- Formerly had H-P target price at $78.
-- Raised International Business Machines Corp. (Nyse:IBM) target to $148-$153 a share from $145.
-- Raised Lexmark International Group Inc. (Nyse:LXK) target to $71-$74 from $68.
-- Raised Sun Microsystems Inc. (Nasdaq:SUNW) target to $56-$58 from $55.
-- Raised Unisys Corp. (Nyse:UIS) target to $25-$27 from $24.
-- Raised LeCroy Corp. (Nasdaq:LCRY) target to $32-$40 from $32.
-- Raised Sequent Computer Systems Inc. (Nasdaq:SQNT) target to $24-$26 from $24.
-- Raised Stratus Computer Inc. (Nyse:SRA) target to $60-$66 from $55.
-- Raised Tera Computer Co. (Nasdaq:TERA) target to $15-$20 from $15.
Quote for referenced ticker symbols: UIS, TERA, SUNW, SRA, SQNT, LXK, LCRY, IBM, HWP
c 1998, Reuters
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