7:43AM Semi Equip Upgrades : --Update-- Merrill Lynch thinks the semiconductor equipment train is pulling out of the station... Firm raising near-term rating on AMAT, KLAC, and LRCX to Buy from Neutral... NVLS, MKSI, and ENTG upped to Buy from Accumulate... AEIS raised to Accum. from Neut... TER raised to Buy from Accumulate (long-term)... Thinks stocks are unlikely to test previous lows, and are currently forming new bottom levels.
7:34AM Semi Upgrades : --Update-- Merrill Lynch upgrading 11 chip sector stocks, believing that the worst of the downturn is behind us. Firm raises near-term rating to Buy from Neutral on ADI, LLTC, MXIM, and STM... Upped to Buy from Accumulate are RFMD, TSM, TXN, and UMC... MU goes to Accumulate from Neutral... Thinks combination of stabilizing earnings estimates, reduced capital spending and bottoming yr/yr change should allow semis to begin slowly outperforming over the next 6-12 months. |
