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Technology Stocks : Cymer (CYMI)

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To: Darryl Olson who wrote (23570)	11/9/1999 12:05:00 PM
From: Darryl Olson	Read Replies (2) of 25960

RESEARCH ALERT - Cymer, Applied Materials raised NEW YORK, Nov 9 (Reuters) - Morgan Stanley Dean Witter said Tuesday it raised its price target for Cymer Inc. (NasdaqNM:CYMI - news) to $55 from $45 per share, and raised the price target for computer chip maker Applied Materials Inc. (NasdaqNM:AMAT - news) to $125 from $86 per share. -- Said it believes semiconductor industry is in the early stages of a cyclical upturn. -- Morgan Stanley also reiterated strong buy rating for Cymer Inc. with a 40 to 60 percent upside potential over the next four or five quarters. -- Morgan said initial 2001 earnings per share estimate is $2.00 per share. -- Shares of Cymer, which makes light sources for the semiconductor industry, were off 1-7/8 at 44 on the Nasdaq stock market. -- Morgan reiterating strong buy rating on Applied Materials. -- Said expects Applied Materials fourth quarter 1999 results should top estimates. Said fourth-quarter results should exceed estimates if $1.48 billion and 63 cents per share. -- Shares of Applied Materials were up 3/16 at 97-3/8 on the Nasdaq. Tuesday November 9, 11:56 am Eastern Time

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