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Technology Stocks : Semi Equipment Analysis

SOXX 316.33

+1.3%

Dec 10 4:00 PM EST

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To: Gottfried who wrote (10519)	7/9/2003 11:57:03 AM
From: Donald Wennerstrom	of 95546

ASYT is jumping this morning on the back of Merrill Lynch's upgrade. Stock is trading up about 25 percent from yesterday's close. <08:05 ET Asyst upgraded at Merrill Lynch (ASYT) 7.80: Merrill Lynch upgrades to Buy from Neutral, citing the following factors: 1) co took mkt share away from an incumbent competitor with yesterday's UMCi deal, and firm estimates ASYT now has over 50% of 300mm fab AMHS wins; 2) the co's aggressive cost restructuring should help provide significant margin leverage; and 3) valuation already discounts near-term pain. Target is $13.> Don

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