JP Morgan Adds Sun Microsystems to Focus List
Sun Microsystems (SUNW ) was higher after JP Morgan added the company to the Focus List, maintaining a buy rating. The firm's price target for the stock is $25.
Analyst Daniel Kuntsler says there's a short list of straight-forward reasons for adding the company to Focus List, but adds none of them are rooted in improvements in near term outlook for computer hardware industry or for customer segments the company is prone to serve, i.e., finanaical services, telecommunications. He believes there's considerable upside implicit in his $25 target price that will begin to recognized with more urgency than was the case prior to Q1 EPS release and subsequent news flow.