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Technology Stocks : Cymer (CYMI)

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To: Darryl Olson who wrote (24146)2/1/2000 8:33:00 PM
From: S. Wallace Slough  Read Replies (1) of 25960
 
2-1-00
MSDW Analyst Deahna Reports:
Blowout F4Q99
Strong Bookings
Raising EPS Estimates: F2000 to $1.40; F2001 to $2.05
Reiterate Strong Buy Rating and $65 Stock Price Target.

Expects Cymer to deliver solid sequential revenue and EPS growth for the foreseeable future. Expect further positive EPS surprises in upcoming quarters and rising forecasts.
Believe CYMI shares will continue to move higher over the next few quarters based on:
Strong Bookings and EPS momentum
Accelerating yoy semiconductor industry revenue growth.
Strengthening adoption rates of high numerical aperture scanning photolithography systems that require advanced 6000 series or better lasers.

Other extracts:
Compelling margin expansion story. Potential of 48% in F4Q00.
Likely expand margins from 7.3% in 1999 to 19% or better in 2000. Likely exceed 23% by year end 2001.
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