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

To: Maverick who wrote (23370)	5/27/1999 11:28:00 PM
From: puborectalis	Respond to of 74651

Lehman pounds table on Microsoft Analyst sees boost from Windows and Office 2000 By Brenon Daly, CBS MarketWatch Last Update: 4:09 PM ET May 27, 1999 Software Report NEW YORK (CBS.MW) -- Microsoft shares bucked a declining technology sector for most of Thursday after Lehman Bros. analyst Mike Stanek told clients its was time to get back into the world's largest software company. Stanek, who noted that Microsoft (MSFT: news, msgs) stock has dropped 25 percent from its highs, raised his price target to 110 from 92. On Thursday, Microsoft stock added 1/2 to 80. The higher price expectation follows Stanek's meeting with the Redmond, Wash.-based software giant. Microsoft wraps up its fiscal year at the end of June. Analysts surveyed by earnings research firm First Call expect Microsoft to earn 35 cents per share, up from 25 cents in the same quarter last year. "The quarter is tracking to expectations and should be solid, with upside provided by the shipment of Office 2000," Stanek said in a research note. Stanek pointed to a pair of potential catalysts for his optimism: the upcoming release of Windows 2000 and next month's release of Office 2000. Windows 2000 is an large-scale operating system, which powers many computer networks. It will compete against offerings from Sun Microsystems (SUNW: news, msgs) and Novell (NOVL: news, msgs). Utah-based Novell reported better-than-expected fiscal second quarter results earlier in the week. See related story. Office 2000 is the latest version of a bundled package of productivity software. It replaces Office 97, which has had "longer legs" than Microsoft originally expected. The trial is set to resume Tuesday after a 13-week recess. Each side will call three witnesses to rebut previous testimony. See related story. Brenon Daly is an online reporter for CBS MarketWatch.