AFCO: Applied Film, Undiscovered Gem? Message Board

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Technology Stocks : AFCO: Applied Film, Undiscovered Gem?

AFCO 8.650

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Jul 10 5:00 PM EST

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To: John Finley who wrote (144)	11/19/2001 12:16:59 PM
From: SemiBull	of 238

Full text.... Robertson starts Applied Films NEW YORK, Nov 19 (Reuters) - Robertson Stephens said on Monday it had started coverage of Applied Films Corp. (NasdaqNM:AFCO - news), a maker of products used in liquid crystal displays, with a ''buy'' rating and a 12-month price target of $35. Flat panel displays (FPD) for computers have become more pervasive as prices have fallen, which should benefit Applied Films, the firm said. In wireless handset applications, FPDs are becoming larger and transitioning to color screens with higher information content, Robertson Stephens said. ``With its recent acquisition of Unaxis' large-area coating division, we believe Applied Films has emerged as the leading equipment supplier to the FPD industry,'' analyst Sue Billat said in a research note. ``Given the higher margins for equipment, we expect upside to our (calendar 2002) estimates, as the mix shifts more toward equipment rather than low-margin pre-coated glass.'' Applied Films also has a partnership with Coca-Cola in the market for coating soft drink plastic bottles, and it also has operations in architectural and automotive glass and applications in the solar panel business. ``We estimate that Applied Films should grow from $53.8 million in revenues in calendar year 2000 to $167.8 million in calendar year 2001 and $186.0 million in calendar year 2002,'' Robertson Stephens said. Applied Films shares closed at $26 on Friday on Nasdaq. biz.yahoo.com

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