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Technology Stocks : International Rectifier (IRF)

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To: James Yu who wrote (1441)1/6/2000 7:12:00 PM
From: John Miz  Read Replies (1) of 1712
 
International Rectifier Corp. (IRF. 1/6/2000)

1-1 (Outperform-Outperform)
Intermediate Target Price: $35 from $25
Long Term Target Price: $45 from $40
Reiterate 1-1 Investment Rating: Raising Price Targets, outlook continues to
improve
*Demand for the quarter continued to strengthen with a strong outlook for the March
quarter.
*Demand is driven by solid demand from the information and industrial markets.
*IRF should benefit strongly from the imminent introduction of Intel's
(INTC-NASDAQ-1-1-$83.63) 600 MHz Pentium III for the mobile market. IRF is the
dominant supplier for the power converter circuit for high performance processor for the
portable market.
*IRF's breakthrough power converter technology is winning strong design for a broad
range of portable devices, and the volume from these markets is yet to come.
*Power circuits are becoming the most critical element for portable products.
*We believe IRF's technology places the company in a premium position that deserves
broader recognition from investors.
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