Compaq Message Board - Msg: 6709526

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Technology Stocks : Compaq

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To: rupert1 who wrote (38673)	12/6/1998 2:58:00 AM
From: Aitch	Read Replies (1) of 97611

Hi Victor, This is my second go at wading through about a million posts on this thread... Just found this post of yours re the Prudential release. Not sure if this has been posted, but, FWIW... CPQ: RAISING PRICE TARGET 07:51am EST 4-Dec-98 Prudential Securities (K.ALEXY) ======================================================================= Ind. Div.: $0.01 Yield: 0.20% Shares: 1,675 mil. 52-Wk.Range: 38-23 _______________________________________________________________________ EPS FY Year P/E 1Q 2Q 3Q 4Q Actual 12/97 $ 1.26 $ 0.26 $ 0.33 $ 0.29 $ 0.38 Current 12/98 $ 0.46E 79.1X $ 0.01 $0.02 $ 0.07 $ 0.37E Current 12/99 $ 1.80E 20.2X $ 0.43E $ 0.43E $ 0.44E $ 0.50E ======================================================================= o We are raising our price target on Compaq shares from $36 to $42 per share on improved visibility into the fourth quarter and 1999. o Recent updates suggest the company continues to track towards both our $11 billion top line estimate as well as our $0.37 EPS estimate for the fourth quarter. o We believe that Compaq's PC demand remains strong in both the corporate and consumer channels, ASPs are firm and sell-through levels are healthy. Channel inventory levels remain lean and Compaq's PC inventory (on CPQ's books) will likely reach record lows this quarter. o This quarter represents the first quarter in which Compaq will deliver significant earnings growth since last year. Evidence of earnings accretion from DEC will provide greater confidence in 1999 estimates and present the possibility of upward earnings revisions. o We reiterate our Strong Buy on the shares.

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