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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.44

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Nov 10 4:00 PM EST

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To: Johnny Canuck who wrote (36613)	4/1/2002 2:39:46 PM
From: Johnny Canuck	Read Replies (1) of 67839

08:56 ET Needham lowers estimates, price targets on EMS co's Needham lowers their ests and price targets for a number of EMS co's, saying that end mkt demand for electronics outsourcing is ramping at a slower pace than envisioned, especially in the communications sector and particularly in the telecom mkt. Cuts MSV 2002/03 ests to $0.37/$0.62 from $0.50/$0.82 and price target to $10 from $11; cuts PMTR 2003/04 ests to $0.37/$0.60 from $0.51/$0.68 and price target to $15 from $19; cuts PLXS 2002/03 to $0.23/$0.88 from $0.25/$1.06 and price target to $28 from $31; and cuts SANM 2002/03 ests to $0.15/$0.69 from $0.21/$1.26 and price target to $21 from $27. 08:08 ET BofA upgrades comm ICs In addition to the communications equipment upgrades noted in the 7:40 comment, Banc of America also upgrades comm IC companies Applied Micro (AMCC 8.00) and PMC Sierra (PMCS 16.28) to BUY from Mkt Perform with targets of $12 and $22 respectively; cites the expected bottoming of telecom capex noted in equipment upgrade.

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