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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (104)10/11/2001 9:02:26 AM
From: orkrious  Read Replies (1) of 99280
 
VECO downgraded

07:38 ET Veeco Instruments (VECO) 28.35: Banc of America Sec. downgrades semiconductor equipment maker to MKT PERFORM from Buy based on valuation; with multiple of 30x 2002 earnings, sees downside risk to $17-$20. Firm cuts FY02 est. to $0.55 from $1.84 and rev to $309 mln from $430 mln vs current mean estimates of $1.63 and $464.8 mln; end-markets recovery is further pushed out.
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