From the Van Kasper website:
Recent Investment Recommendations
First Security Van Kasper Initiating Coverage on CoorsTek, Inc. with a Strong Buy Rating.
San Francisco, California
3/15/00
San Francisco, California ? Susan R. Crossley, Semiconductor Capital Equipment analyst at FS Van Kasper, has initiated coverage on CoorsTek, Inc. (NASD: CRTK $29 7/8) with a Strong Buy rating and a 12-month price target of $80.
Below are direct quotations from Ms. Crossley?s research report:
We are initiating coverage of CoorsTek with a Strong Buy rating.
Headquartered in Golden, Colorado, CoorsTek was recently spun off from ACX Technologies CoorsTek makes high-end components for semiconductor manufacturing equipment and other industrial applications.
We believe the semiconductor equipment industry has entered a multi-year upturn, with projected growth of 60%+ in 2000 followed by 20?30% annual growth in 200?02.
As a supplier of components, engineering, and assembly services for semiconductor equipment, CoorsTek should benefit from both the industry?s rapid expansion and outsourcing on the part of equipment makers.
Trading at 8.8 times estimated 2001 EPS and 0.5 times projected revenues, the stock appears to be considerably undervalued. We recommend purchase of CoorsTek shares with a 12-month price target of $80.
fsvk.com
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