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UNISYS: BAIT FOR BOTTOM-FISHERS?

If there's one company that has often been rumored as a takeover target, it's Unisys (UIS), which some pros dub ''the poor man's IBM.'' Unlike Big Blue, however, Unisys has been a loser for some time. Now at 65/8 a share, the stock is not far from its 52-week low of 53/8--in part because of disappointing revenues.

A maker of mainframe and workstation systems and a provider of information services to 60,000 customers in 100 countries, Unisys has started to attract bottom-fishers. And there are still investors who are convinced that Unisys will eventually be taken over.

A New York investment banker argues that, on fundamentals alone, Unisys is a good buy: ''It's a great turnaround story, based on its efforts to get back into the black,'' says this pro. He thinks the stock should rebound smartly once earnings revive. Although Unisys will still post a loss this year, he sees it making 50 cents a share in 1997.

Standard & Poor's analyst Ted Groesbeck expects the shares ''to stage a comeback as Unisys starts to show improvement in subsequent quarters.'' The long-term outlook ''appears bright,'' he says, with Unisys returning to profitability on reduced operating costs and lower interest expense.

BY GENE G. MARCIAL



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Updated June 14, 1997 by bwwebmaster
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