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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: The Duke of URL© who wrote (70343)	10/27/1999 1:34:00 PM
From: elepet	Read Replies (1) \| Respond to of 97611

Wednesday October 27, 1:12 pm Eastern Time RESEARCH ALERT-Compaq Q4 estimate raised CHICAGO, Oct 27 (Reuters) - ABN AMRO said Wednesday it raised Compaq Computer Corp.'s fourth-quarter earnings per share estimate a day after the world's largest computer maker posted higher third-quarter earnings. -- In a research note, ABN AMRO analyst Jonathan Ross said he is raising his fourth-quarter EPS forecast to 17 cents from 13 cents, following a ``generally good 3Q 99 performance.' -- Ross said he is also reiterating his 12-month price target of $35. -- Ross said Compaq's cheap valuation is unreasonable for a company showing healthy and improving operating profits. -- Ross said he believes Compaq will turn around because efficiencies are improving, sales of the company's high-end server Alpha is stable and the company is well prepared for the convergence of wireless and the Internet. -- ``On the first sign that top-line growth is resuming, we will not hesitate to upgrade the counter (stock) to a buy,' Ross said. -- Shares of Compaq rose 11/16 to 20 on the New York Stock Exchange in midday trade.