Wachovia Upgrades Sun Microsystems (JAVA) to Outperform
More News related to HPQ
- HP Introduces First Professional Workstation with Six-core AMD Opteron Processor
- NVIDIA (NVDA) Falls On Share Loss Rumors
- HP Advances Teaching and Learning in the Classroom
- HP Offers Small Businesses More Value for Better Business Results With Expanded HP Access Program
- HP Challenges Small Businesses to Save Up to 50 Percent on Printing Costs and Energy Use with HP Officejet Pro
More News related to JAVA
- Fitch Rates Oracle's Debt Offering 'A'; Outlook Stable
- Sun Microsystems Unveils VirtualBox 3.0 With Powerful New Server Virtualization Features
- Notable Mergers and Acquisitions of the Day 6/29: WW, ORCL/JAVA, EPD/TPP
- CloudSwitch Adds Industry Veteran John McEleney as CEO and Secures New Round of Financing
- Sun Microsystems Releases NetBeans 6.7; Enabling Millions of Developers to Connect Via NetBeans IDE and Project Kenai
Wachovia upgrades Sun Microsystems (NASDAQ: JAVA) from Market Perform to Outperform with a $15 to $18 valuation range.
The firm said, "We find that even with our lower-than-consensus expectations, there could still be some good upside potential to Sun’s current stock price, given what we believe to be reasonable valuation multiples. In addition, HP’s (NYSE: HPQ) preliminary April 2008 quarter results, in which HP reported sales that were above its original guidance, suggest to us that the global computer demand environment, while perhaps a little soft, has not deteriorated drastically."
In addition, analysts believe Sun has demonstrated a commitment to cost cutting and will likely result in sustained profitability when the computer infrastructure end market recovers.
Related Categories
UpgradesStocks Mentioned
-0.83Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
