Is Prudential back in the scam the public upgrade/downgrade game? Or is this meant for Prudential customers only?
07:31 ET KLA-Tencor cut to Hold at Prudential on valuation; target $37 (KLAC) 36.41: Prudential downgrades to Hold from Buy given concerns regarding the steep declines in DDR DRAM pricing, flat March quarter order guidance, and geopolitical uncertainty believes the near-term catalysts for stock appreciation could be limited.
07:32 ET Amazon.com upped to Outperform at Solly; Prudential maintains Sell (AMZN) 21.79: Salomon Smth Barney upgrades to Outperform from In-Line based upon revenue and margin momentum built across 2002; expects ROIC and cost of capital spread to keep expanding, allowing AMZN to continue lowering selling prices. Prudential, on the other hand, maintains Sell rating; thinks growth rate examplified in Y02 is not sustainable; thinks the free-shipping promotion failed and international business has limited market opportunities.
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17:09 ET KLA-Tencor comments on overall '03 equipment spending (KLAC) 36.41 +0.21: -- Update -- On call, says that, overall, it believes semiconductor capital equipment spending will increase about 10% in 2003
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08:53 ET KLA-Tencor upgraded at Fulcrum (KLAC) 36.41: -- Update -- Fulcrum upgrades to Buy from Neutral; after the disappointing orders and shipments guidance for the March 2003 qtr, firm believes that the forecasted "bad news" would be in the stock; expects some selling pressure given the disappointing orders guidance, and estimates that the potential downside is 5-10%; firm would be aggressive buyers of KLAC at $35, with a price target of $45. |
