LEXMARK & HP TO BENEFIT FROM KODAK?

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Date: Wednesday July 6, 2005 10:50:00 am
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    Lexmark, HP To Benefit From Kodak Inkjet Strategy

    banc of America Securities expects Eastman Kodak to take a more measured move into the inkjet market than previously anticipated, thus providing a positive for Hewlett-Packard and Lexmark International The research firm assumes Lexmark will continue to manufacture the majority of printer units for Dell since Lexmark has almost all of Dell’s inkjet business. “Dell will represent 29% of Lexmark’s new printer units in 2006,” Banc of America estimates. On the laser printer front, the research firm believes Lexmark will likely fall below 50% in laser units next year as other partners such as Samsung and Fuji-Xerox will represent a larger number of Dell’s new laser product offerings. Banc of America reiterated a “neutral” rating and $74 target price on Lexmark, saying the stock is reasonably valued. In its coverage of enterprise hardware, Banc of America’s top picks are EMC and IBM both rated at “buy” with respective target prices of $15.25 and $84

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