Short Take: PaineWebber upgrades DEC stock

PaineWebber upgraded its rating of Digital Equipment stock to "buy" from "attractive." Analyst Stephen Smith said he was raising the 12- to 18-month price target on the stock to $70 from the $60-$65 range, based in part on Digital's recent deal with Intel, which he said "will clearly further strengthen DEC's balance sheet significantly."

Nov. 7, 1997 10:55 a.m. PT

upgraded its rating of Digital Equipment stock to "buy" from "attractive." Analyst Stephen Smith said he was raising the 12- to 18-month price target on the stock to $70 from the $60-$65 range, based in part on Digital's recent deal with Intel, which he said "will clearly further strengthen DEC's balance sheet significantly."