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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 694.07-0.2%Jan 29 4:00 PM EST

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To: Johnny Canuck who wrote (28232)9/14/2000 3:10:48 AM
From: Johnny Canuck  Read Replies (1) of 70240
 
13:00 -- 14:00 ET (Updated throughout the hour)******

Westell Tech (WSTL) 15 1/4 -3/4: PMG initiates coverage with a BUY rating and price target of $36. Says recent pull back in stock provides buying opportunity – DSL market poised for growth as copper phone lines become digitized. Does not anticipate negative impact from VZ strike. Calls concerns over gross margin potential in CPE market overstated, Q1 gross margin was up and should increase going forward as outsourcing and cost reductions improve efficiency.

Cypress Semi (CY) 42 7/16 +1 1/2: Merrill Lynch reiterates NT BUY/LT BUY rating and price target of $75; raises F00 EPS estimate to $2.29 from $2.25 and F01 revenue and EPS estimates from $1.72 billion and $2.80 to $1.75 billion and $2.90, respectively. Says outstanding overall business conditions continue for CY with company on track to enter 4Q00 at least 90% booked and booking orders into 1Q01.

Audiocodes (AUDC) 115 7/8 -1 1/4: Merrill Lynch initiates coverage with a NT BUY/LT BUY rating and price target of $162; views company as a quality play on Voice-over-Packet market; highlights three core strengths: superior technology, high growth potential and impressive client list.
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