Markets & Finance

DB Alex Brown Boosts Computer Sciences to 'Buy'

DB Alex Brown upgraded Computer Sciences (CSC) to buy.

Analyst Mark D'Annolfo says, as expected, the company cut the fiscal 2002 (March) EPS guidance to $2.00-$2.10, which he believes is already factored into the share price. D'Annolfo notes the guidance reflects continued softness in the company's consulting and systems integration business.

He cut the $2.00 fiscal 2002 EPS to $1.88, and cut the $2.77 fiscal 2003 estimate to $2.50, which he believes is more attainable. D'Annolfo also upgraded the stock because he thinks shares are "dirt cheap", and thinks the risk/reward is positive.

D'Annolfo thinks a win for the company's Groundbreaker application will boost performance. Also, he says that even if Computer Sciences hits its quarterly numbers, it could be viewed as a positive factor considering investors' negative psychology towards the company.

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