Lam Research (LRCX, NASDAQ): To the Insiders Message Board

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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders

LRCX 166.37

+4.4%

3:59 PM EST

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To: Proud_Infidel who wrote (4125)	6/1/2000 7:44:00 PM
From: Jong Hyun Yoo	Read Replies (2) of 5867

Lam held an analyst meeting with CSFB yesterday. CSFB issued following comments this morning. LRCX at current level has a significant upside appreciation potential. Lam Research (LRCX, $32.13, BUY) Target (12 Months): $70 Business Fundamentals Continue To Be Strong - Visibility Increasing. Business conditions remain very robust. Visibility is increasing and we have a high degree of confidence in our 4QFY00(Jun) estimates of $380 million in revenue and EPS of $0.44. Street consensus is $0.43 We believe that bookings growth in 2H00 should increase 15-20% versus our previous estimate of 10-15%. In addition, we believe the company is executing well on obtaining 20% booked market share in CMP by 4QCY00. Lam is a leveraged play on increasing capital budgets in Japan. LRCX has increased market share in Japan from 10% in 1998 to an estimated 20% in 2000. At current levels, valuation is compelling with the stock trading at 14.6 times our CY01 EPS estimate of $2.20. Our price target of $70 is 32 times our CY01 EPS estimate, 120% appreciation from current levels. Annual EPS 06/01E $1.95 06/00E 1.34 06/99A (0.48)

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