Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Wachovia Cuts CSC to Mkt Perform from Outperform


Wachovia downgraded Computer Sciences (CSC) to market perform from outperform, after Saturday's Wall Street Journal said that Lockheed Martin (LMT) and three private-equity firms have broken off talks to buy CSC.

Analyst Edward Caso says it appears that the deal has stalled due to the mechanics of separating CSC's government and commercial practice, and also to a lesser extent from the value of the commercial piece. Caso says his talks with industry sources suggest the equity firms are wrestling with how much leverage can be put on the commercial practice. The potential for the sale of CSC now appears more in the distant than near future, Caso says. He sees $3.28 fiscal year 2006 (ending March) earnings per share and $3.70 in fiscal year 2007.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus