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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: johnd who wrote (36326)	1/12/2000 12:47:00 PM
From: johnd	Read Replies (1) \| Respond to of 74651

MSFT: Expect Strong Win 2000, Raising EPS Estimates And Price Target Salomon Smith Barney Tuesday, January 04, 2000 --SUMMARY:--Microsoft Corporation--Server & Enterprise Software We have reviewed the preliminary results from our year-end Fortune 500 CIO survey and the results indicate that Windows 2000 is well positioned for a strong debut. We see indications of strong demand for Windows 2000 at both the desktop and server level and within a more compressed timeframe then we had previously expected. Given the strength of our survey results and from positive feedback from our industry sources, we are raising our earnings estimate for fiscal 2001 from $2.00 to $2.05 and establishing a fiscal 2002 EPS estimate of $2.45. ** Shares of Microsoft are currently trading around 62 times our calendar 2000 estimate of $1.85 and we apply a mid-50s multiple on our fiscal 2002 earnings estimate of $2.45 to arrive at a new price target of $135, from $115.