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

To: Night Writer who wrote (93934)	12/3/2001 1:38:49 PM
From: Night Writer	Read Replies (2) \| Respond to of 97611

UPDATE 1-Lehman raises Compaq price target to $13 (adds details) NEW YORK, Dec 3 (Reuters) - Lehman Bros. said analyst Daniel Niles on Monday raised his 12-month price target for Compaq Computer Corp. <CPQ.N> to $13 from $10, saying that he believes Compaq had a strong October and November. Niles said that Europe remains strong and that the North American consumer market has bounced back since the terror attacks on Sept. 11. He also said that corporate customers have stuck with Compaq despite its proposed merger. But Niles also said that given the dramatic slodown last year in December and concerns about corporate spending freezes, Compaq's December is probably "significantly down" from November. Niles said that he still believes the chances for the company's merger with Hewlett-Packard Co. <HWP.N> are 75 percent, although a meeting of the board of the Packard Foundation, a key shareholder, on Dec. 7 could be a negative. The company announced plans for the merger on Sept. 4 but Wall Street has reacted negatively and some shareholders, including members of the Packard and Hewlett families, say they intend to vote against it. Compaq shares rose 1.3 percent to $10.28 in early trading Monday on the New York Stock Exchange. Their 52-week trading range is $7.28 to $24.97. ((Caroline Humer, New York Technology desk, 1 646 223-6181, caroline.humer@reuters.com)) REUTERS Sorry if I'm repeating. NW