Felt the need to post something bullish :0)
RESEARCH ALERT-CSFB strategist touts tech stocks
NEW YORK, Aug 17 (Reuters) - Credit Suisse First Boston's market analyst Christine Callies said economic
fundamentals supporting demand for technology products and share prices are hearty and should remain so into
1999.
In a report, Callies told clients that the sector has some of the cheapest valuations compared to other growth areas in the market and said profit growth
seems to be troughing in most major subgroups in the sector.
She said some of the best areas to buy into are growth value hybrids, including Gateway Inc. (GTW - news), which was up 1-13/16 to 58-1/2, and
SCI Systems Inc. (SCI - news), which rose 8/16 to 28-15/16.
Callies said clients should overweight in the technology sector, forecasting hardware and related equipment, local area networks, software and related
services and semiconductors as the best bets.
''The clash between healthy domestic demand and global risks is nowehere more vivid than in the technology sector,'' she said. ''In our opinion, (a
recent) recovery is more than an 'oversold' bounce and should continue into early 1999.'' |
