BlueStone Capital Partners Announces Investment Opinion on Microsoft Corporation.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital Partners NEW YORK--(BUSINESS WIRE)--Dec. 12, 2000 BlueStone Capital Initiates Coverage on Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, (MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ) with a 1-1 Rating Senior Analyst Jean W. Orr, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. , of BlueStone Capital initiates coverage on Microsoft Corporation (MSFT; NASDAQ-$58.06) with a 1-1 Outperform-Outperform investment rating. The intermediate price target is $70 and the long-term target price is $81, according to the analyst. Analyst's Summary -- We are initiating coverage of Microsoft with a 1-1 rating on the stock and price targets of $70.00 intermediate term and $81.00 longer term. We estimate the three-year compound annual growth rate will be at least 15%. -- The company has an unusually strong market position. Microsoft has an established franchise with corporate and individual computer users. The company has excelled by providing computer users with ease of use superior to its competition. -- Microsoft has substantial financial Strength. The company had $24.7 billion of cash and cash equivalents and another $20.5 billion of equity and other investments on September 30, 2000. Microsoft generates positive cash flow of more than $10 billion a year and has no long-term debt. This financial position enables the company to invest in new technologies and companies to support its future growth. -- Through stock option programs and the growth of the company, Microsoft has been a very rewarding place to work resulting in a richly talented employee base. This allows the company to attract new talent and motivate its employees. -- New opportunities abound for the company. Growth of the markets for personal computers, servers, handheld computers, and Internet applications and infrastructure provide a number of growth opportunities for Microsoft. BlueStone Capital is a full service investment banking and brokerage firm focused on identifying investment opportunities in the emerging growth sector. BlueStone Capital assists clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , and ISMA ISMA See: International Security Market Association . |
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