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To: Venkie who wrote (8470)7/30/2002 9:26:29 AM
From: stockman_scott  Read Replies (1) | Respond to of 13815
 
08:04 ET BEA Systems estimates cut at Prudential (BEAS) 6.40: Prudential cuts 2002-03 ests for BEAS due to continued signs of IT budget weakness; cuts CY02 rev/EPS ests to $929 mln/$0.26 from $992 mln/$0.31, cuts CY03 ests to $1.106 mln/$0.34 from $1.183 bln/$0.41, and lowers price target to $12 from $20; however, firm thinks current valuation fully discounts the threat from IBM and MSFT.