International Rectifier (IRF) Message Board

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Technology Stocks : International Rectifier (IRF)

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To: John Miz who wrote (1461)	3/27/2000 7:26:00 PM
From: John Miz	of 1712

Gruntal Today... International Rectifier Corp.? (IRF- $44.00 @ 8:00 AM EST, 3/27/00) 1-1 (Outperform-Outperform) Intermediate Target Price: $65 Long Term Target Price: $100 Suitability: Moderate Risk Reiterate 1-1 Investment Rating: Raising estimates & Price Targets! Demand for IRF products are accelerating. Orders for the March quarter will likely increase close to 35% year over year. The information technology market particularly for portable products is booming. The company?s revenue is shifting to a richer product mix as demand for its newer ICs and modules are expanding at a fast clip. The new IRF power ICs and modules are gaining momentum as key design wins are moving into volume shipment. We expect strong build-up in momentum moving into fiscal 2001 and beyond, thus resulting in stronger growth for revenue and expanding gross margins. We are increasing our EPS estimate for fiscal 2000 to $1.00 from $0.97, fiscal 2001 to $2.10 from $1.84, fiscal 2002 to $3.12 from $2.80, and fiscal 2003 to $4.25 from $3.50. We are also increasing our intermediate price target to $65 from $40 and long-term to $100 from $60. Mona Eraiba

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