Microsoft (MSFT): Estimates up. CS is now at the high end of guidance, which should leave room for upside. CS argues that MSFT shares are cheap, trading at only 18x FY08 earnings. (That doesn’t qualify as “cheap” in our book, but it’s certainly not expensive.)
Sun Microsystems (JAVA): Citi reiterates “Buy”and raises target to $35 from $29 following in-line Q4. Citi sees upside through the spring and summer from strong demand for Niagra II and Intel-based servers as well as continued robust growth overseas.
Juniper Networks (JNPR): Despite a strong Q4, Citi cuts target to $31 from $35, citing “macro concerns.” Citi says that it is “less than comfortable with the execution risk on the SLT side of the business,” insisting that the 25% margins management has projected are “aggressive.”
Time Warner Cable (TWC): Goldman Sachs cuts estimates due to macroeconomic headwinds which will drive down net adds and ARPU. GS expects Q407 revenue, EBITDA, and EPS to come in at $4.12bn, $1.51, and $0.29 respectively.
News Corp (NWS): Goldman cut estimates citing concerns with “the delay in closing of the DirecTV/Liberty transaction and the integration of Dow Jones.”
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