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March 24, 1997updated 05 Sep 2016 12:07pm

HAMBRECHT & QUIST CUTS COMPUTERVISION EARNINGS ESTIMATE

By CBR Staff Writer

Hambrecht & Quist LLC was no more impressed than we were that Computervision Corp was unable to get the price it wanted for its maintenance arm. It has cut its earnings estimate for the company after it ended its agreement to sell its hardware services business to J F Lehman. Hambrecht cut the rating to hold from buy and the 1997 earnings estimate to $0.53 a share from $0.60. It had recommended the shares based partially on a successful sale to J F Lehman, and it is now concerned the new deal will divert attention from Computervision’s core software business.

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