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Strategies & Market Trends : P&S and STO Death Blow's

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To: Jeffrey S. Lillie who wrote (24553)	1/16/2003 3:06:00 PM
From: Softechie	Read Replies (1) of 30712

TER 2:49 (Dow Jones) Teradyne's (TER) current stock price is unsupportable, says Banc of America, which downgrades the chip equipment maker to sell. "Given our modest recovery scenario we cannot grow revenue at TER fast enough to get to an earnings estimate that will support the current stock price." The firm adds that management is too optimistic about a recovery and "is not cutting costs fast enough given the changed environment of the semiconductor industry." TER shares are losing 69c to $12.30; Banc of America has a $9.50 target price.

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