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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 690.64+1.9%Feb 6 4:00 PM EST

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To: Johnny Canuck who wrote (40922)4/2/2004 12:41:56 PM
From: Johnny Canuck  Read Replies (1) of 70588
 
09:27 PXLW Next Generation Research starts PXLW with a BUY and $20 tgt (17.26 )

Next Generation Equity Research is initiating coverage of Pixelworks with a Buy rating and price target of $20. The firm notes PXLW has a dominant share in system on chip solutions for projectors at 85% and its increasing market share in digital TVs with the Photopia roll out while exiting low margin monitor business. The firm notes the co trades at valuations that are a slight premium to its peers in the digital media/semiconductor industry, but believes the co merits higher valuations because of better margins and less exposure to pricing pressures in the desktop monitor business. The 12-month price target of $20 is based on 5-6x price to sales and price to book and 50x FY04 EPS of $0.40
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