STOCKWATCH Computer Associates rated 'hold' by ABN Amro in initial coverage

SAN FRANCISCO (AFX) - Computer Associates International Inc was rated a 'hold' in initial coverage by analysts at ABN Amro, who said that although they view the stock positively in the long-run, the near-term outlook remains cloudy."While we are positively disposed towards CA over the long-term, we believe near-term issues will limit the performance of the company's stock," said ABN Amro.Chief among the factors hindering Computer Associates near-term performance is the change in its accounting and revenue recognition practices, said ABN Amro.The perceived gap between proforma figures in its accounts and numbers presented using generally accepted accounting principles has left analysts baffled as to how to calculates its financial performance.For the full-year, ABN Amro is forecasting revenue of 5.6 bln usd with earnings per share of 1.53 usd.At 1.25 pm in New York, Computer Associates rose 0.13 to 28.89. The Nasdaq composite added 23.37 points to 2,169.47, and the DJIA rose 63.30 points to 10,859.95.

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