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Strategies & Market Trends : Waiting for the big Kahuna

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To: donald sew who wrote (18312)	5/11/1998 4:19:00 PM
From: Greg Jung	Read Replies (2) of 94695

don, when an analyst raises targets on a group because of "multiple expansion" it is a comical way to try and extend the top. Monday May 11, 3:31 pm Eastern Time IBM, Dell, Hewlett-Packard shares all at new highs NEW YORK, May 11 (Reuters) - Shares of Dell Computer Corp (DELL - news), International Business Machines Corp (IBM - news) and Hewlett-Packard Corp (HWP - news) all touched all-time highs in late trading Monday, amid gains in many bellwether issues. Dell Computer stood up 1-7/8 in late trading, at 93-5/8, after touching 94-15/16 earlier. IBM was up 1-3/8 to 121-3/8 after reaching 122-3/4. Hewlett-Packard stood up 1/4 to 77-3/8. Earlier it touched a high of 78-1/2. Salomon Smith Barney said Monday analyst John Jones raised target prices on server and enterprise hardware computer companies amid strong fundamentals. Jones, in a research note, said that despite weakness in Asia the group ''is finally experiencing a (price to earnings multiple) expansion...''

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