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International Business Machines Corporation Message Board

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  • sujit_98 sujit_98 Dec 19, 2000 12:46 PM Flag

    CSFB had put target of $86 on IBM:Moron

    Yes They did. Please Mind your
    Language!!!

    redit Suisse Hikes Oracle Estimates But Is
    Cautious
    on IBM
    By Yi Ping Ho
    Staff Reporter

    12/15/00 2:34 PM ET


    Credit Suisse First
    Boston increased its full-year 2001 and 2002

    estimates on software maker Oracle (ORCL:Nasdaq - news),
    saying
    the company's fiscal 2001 "should even convert
    the skeptics."

    The positive spin comes one
    day after Oracle posted second-quarter
    earnings
    that Credit Suisse called "picture perfect."


    In its technology group research update, Credit
    Suisse said it was
    raising its full-year 2001
    earnings per share estimate to 51 cents from
    48 cents,
    and revenue estimate to $11.9 billion from $11.8
    billion. As
    for 2002, the firm now expects earnings of
    63 cents a share, up from
    57 cents a share, on
    revenue of $14.1 billion, compared with a
    previous
    estimate of $13.5 billion.

    Credit Suisse also
    reiterated its strong buy rating on the Redwood
    City,
    Calif., company, and a 12-month price target of $48,
    which it
    said "suggests 75% upside from current
    levels." Oracle was recently
    trading at $29.06, up
    5.7% or $1.56, on the Nasdaq.

    But playing the
    skeptic on bellwether IBM (IBM:NYSE - news),
    Credit
    Suisse said the company "cannot avoid deteriorating
    industry
    fundamentals this quarter, and said it believes
    "there is a downside to
    the Street's $26.75 billion
    revenue expectation" for IBM's fourth
    quarter. Credit
    Suisse foresees fourth-quarter revenue of $25.75

    billion, with a price target of $85. IBM was recently
    trading at $87.38,
    down 5.4%, or $5.06, on the New
    York Stock Exchange.

    The research firm also
    urged caution on Internet incubator CMGI

    (CMGI:Nasdaq - news), which beat estimates yesterday with
    a
    narrower-than-expected first-quarter loss. Credit
    Suisse said "weak
    online advertising sales" at the
    company's Engage unit and the
    "continued transition of
    Alta Vista" were responsible for "revenue
    growth
    of only 3%."

    Credit Suisse, which has a
    hold rating on the company, also said that
    the
    "strong possibility of additional streamlining and
    restructuring" at
    CMGI could "cloud visibility in the near
    term."

    CMGI was lately spiraling south, losing
    75 cents, or 8.2%, to $8.31 in
    Nasdaq trading.


    In addition, Credit Suisse reiterated its strong
    buy rating on Veritas
    Software (VRTS:Nasdaq -
    news), which it called "one of the most
    attractive
    large-cap, high-growth" software companies with

    "improving fundamentals, formidable competitive
    advantage,
    leverageable financial model and significant
    visibility."

    Credit Suisse said it expects Veritas to
    report 2000 earnings of 58
    cents a share, compared
    with 35 cents a share in 1999. For 2001, it

    expects earnings of 86 cents a share. Credit Suisse said
    it believes
    the company's penetration of other
    hardware platforms, including
    Sun Microsystems'
    (SUNW:Nasdaq - news) servers, "insulates the
    company from
    potentially slower growth at any one vendor."

    Shares
    of Veritas recently gained $3.25, or 3.9%, to $97 in
    trading

 
IBM
191.23+1.13(+0.59%)Aug 21 4:01 PMEDT

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