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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: TimbaBear who wrote (17791)	6/18/1999 11:56:00 AM
From: Benkea	Read Replies (1) \| Respond to of 99985

Well, unless this is purely an options day manipulation, those July puts could turn out painful: Friday June 18, 11:33 am Eastern Time RESEARCH ALERT-IBM target, EPS view raised NEW YORK, June 18 (Reuters) - Morgan Stanley Dean Witter on Friday said analyst Thomas Kraemer had raised his price target on shares of International Business Machines Corp. to $135 from $115 and had increased his earnings estimates for the company. -- Kraemer raised his estimate for the 1999 second quarter to $0.88 a share from $0.87. -- He raised his 1999 estimate to $3.96 a share from $3.85, and raised his 2000 projection to $4.42 from $4.39. -- In a research brief, Kraemer said IBM's solid fundamentals combined with its Internet focus prompt him to be ''steadfast on the company,'' though he is concerned about valuation. -- Kraemer said he believes the outlook for IBM businesses should improve and that year-2000 computer issues, which would siphon off corporate computer spending, do not appear to be causing any downside in the second half of 1999. -- Shares of IBM were down 3/16 to 120 in morning trade on the New York Stock Exchange.