CNN: The Sun Also Rises

"Sun Microsystems is finally basking in the warmth of some much-needed love from Wall Street.

"The manufacturer of high-end servers for big businesses has been struggling for the past few years as companies have cut back on tech spending. The company reported a loss in its latest fiscal year, which ended in June, and analysts are predicting an even wider loss for fiscal 2004.

"But this month, Banc of America Securities analyst Keith Bachman upgraded the stock and Merrill Lynch analyst Steve Milunovich, who has been one of the company's harshest critics, raised his revenue target for the company's fiscal second quarter..."

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• Reuters: Sun Shares Tumble, Wall St Seeks Deeper Cost Cuts(Oct 01, 2003)