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

To: Elwood P. Dowd who wrote (86574)	11/10/2000 9:25:35 AM
From: Far Side	Read Replies (1) \| Respond to of 97611

Poor Michael Dell (note positive comments on competition from CPQ) C.E. Unterberg on Dell (DELL) by Tomi Kilgore C.E. Unterberg, Towbin joined the Dell Computer (DELL) bashing party, downgrading the PC maker to a "buy" from a "strong buy," and cut its price target to a range of $30-$35 from $40. Analyst James Poyner, Jr. told clients, "Dell's revenue outlook reflects a view of continued European sluggishness in corporate PCs, better competition from Compaq (CPQ), and the prospect of falling average prices due to further declines in component prices." He noted that the company said it would give further guidance on the its fourth-quarter call, but nothing it suggested indicated there would be a positive reversal. He recommended not to "recklessly sell the stock in the $20s" given its current multiple. 8:49AM Dell cut on growth outlook (DELL, INTC) by Emily Church Dell Computer's (DELL) cautious outlook on sales growth next year has prompted downgrades on Wall Street Friday morning. Bank of America Securities cut the stock to a buy from a strong buy. Analyst Kurtis King tells clients, "we believe Dell's continued growth deceleration is largely attributable to improvements by competitors." He lowered forecasts for revenue growth next year to 20 percent from 23 percent and EPS estimates to $1.12 from $1.15. Earlier, CNBC reported that Morgan Stanley Dean Witter cut Dell and Intel (INTC). 8:45AM 'Dell not well,' says CSFB (DELL) by Tomi Kilgore Analyst Kevin McCarthy at CS First Boston reiterated his "hold" rating on Dell Computer (DELL) and cut his price target on the stock to $25 from $33, following the company's release of fiscal third quarter results. In a research note to clients, McCarthy said Dell needed to "quickly decrease" reliance on desktop revenue, which currently represents 48 percent of the total. He believes the company should ramp up its presence as an enterprise supplier, which is 19 percent of sales. However, he cautioned that a successful transition "will take time and money and could lead to further revenue and earnings shortfalls." Although he thinks Dell will "ultimately succeed," he recommended investors "wait this one out." In pre-market trading, the stock is sliding $4.88, or 17 percent, to $23.50.