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Technology Stocks : Cymer (CYMI)
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To: Robert Douglas who wrote (24105)2/1/2000 11:46:00 AM
From: Bob Kim  Read Replies (1) of 25960
 
Robert,

The $61 price target is 53% higher than FitzGerald's previous one ($40), but it is pretty much meaningless. It puts CYMI in ML Buy rating (upgrade) territory below $50.83 and in ML Neutral rating (downgrade) territory above $55.45.

I wonder if he is considering downgrading his sector. He commented yesterday that the weak seasonal period for semiconductor stocks is near and that June/July could provide the best buying opportunities. But then again, last June he was hinting that it was time to sell. TheStreet.com ought to revisit that particularly bad suggestion since it chose to focus on it at least a couple times.

Based on my tracking, FitzGerald's lower-rated stocks tend to outperform his highest-rated stocks and stocks that he has downgraded such as PRIA and VECO have performed better under their lower ratings.

BTW, Merrill reiterated its Buy rating on ASML in concert with the CYMI downgrade. Last published price target that I've seen on ASML is $102.
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