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

To: PCSS who wrote (93584)	11/6/2001 1:35:02 PM
From: tonyt	Read Replies (2) \| Respond to of 97611

HWP up 10%, CPQ down 2% -- Deal must be off.

To: PCSS who wrote (93584)	11/6/2001 1:39:51 PM
From: Night Writer	Respond to of 97611

RESEARCH ALERT-Merrill starts imaging tech sector NEW YORK, Nov 6 (Reuters) - Merrill Lynch said on Tuesday it has started coverage of the imaging technology sector, including photography giant Eastman Kodak Co. <EK.N> and postage meter maker Pitney Bowes Inc. <PBI.N>. "We believe revenue growth in the Imaging Technology sector will be hampered near-term by cyclical economic weakness, causing customers to defer discretionary equipment purchases," analyst Shannon Cross said in a research note. Cross said that, "longer-term, we anticipate secular shifts to color laser printing equipment will drive revenue improvement" for Electronics for Imaging Inc. <EFII.O>, Lexmark International Inc. <LXK.N>, and Hewlett-Packard Co. <HWP.N>. This shift to digital imaging is expected to hurt Kodak, which Cross rated "reduce." Cost-cutting initiatives at Pitney Bowes, Kodak, Lexmark, and Electronics for Imaging are likely to lead to improved margins over the next two years, she said. Pitney Bowes was rated "buy" because of its stable, recurring revenue with growth expected from increased mailroom security, growing penetration of document management services and digital mail meter migration. Also, the company's credit products should provide high margin revenues, Cross said. Lexmark has an intermediate-term "neutral" rating and a long-term "buy" rating. Electronics for Imaging received an intermediate term "accumulate" and a long-term "buy" rating. Cross rated both Hewlett-Packard and Creo Products <CREO.O> as intermediate-term "neutral" and long-term "accumulate." ((-- New York Newsroom, 646 223-6000 or nyc.equities.newsroom@reuters.com)) REUTERS