Sun Microsystems awarded investment upgrade by Salomon

Salomon Smith Barney upgraded the investment rating of Sun Microsystems from ¡§neutral¡¨ to ¡§buying in¡¨ and the 12-month target price was also lifted from US$18 to US$22, for signs showed that the worst condition that enterprises curtailed technology investment has came to an end. However, Merrill Lynch downgraded the profit prediction of Sun Microsystems in 2002 from 46 US cents to 39 US cents and the turnover forecast was also lowered from US$20.3 bln to US$19.1 bln. Merrill Lynch awarded the company an investment rating of ¡§long-term collection¡¨ and the 12-month target price was downgraded from US$26 to US$24.Sun Microsystems ended up 59 US cents, or 4.09% to US$15.03 last Friday.

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