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Technology Stocks : International Rectifier (IRF)

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To: JakeStraw who wrote (1629)11/21/2002 8:30:15 PM
From: pompsander  Read Replies (1) of 1712
 
10:20AM Intl Rectifier (IRF) 24.01 +1.55: Before open, UBS Warburg initiated with a Hold rating and price target of $23. Firm believes IRF is successfully transforming itself from a discrete semiconductor maker to a provider of proprietary systems ICs and modules. Also, thinks product mix shift toward proprietary products will enable company to raise gross margins above its historical average, create competitive barriers to entry, and increase visibility; says automotive sector should be key catalyst for growth over next couple of years. Firm says fundamentals are solid and co. is well positioned for longer term; however, stock does not represent an exceptional risk-reward tradeoff at current $22 price, and firm would look to build positions at or below the $18 level in near-term.
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