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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.88

-0.3%

Jan 30 4:00 PM EST

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To: Johnny Canuck who wrote (41078)	4/19/2004 1:26:48 AM
From: Johnny Canuck	Read Replies (1) of 70319

12:09 FLSH M-Systems: C.E. Unterberg reiterates Buy rating; tgt $27 (19.61 -2.46) C.E. Unterberg is reiterating its Buy rating and tgt of $27 for Msystems (FLSH). Firm states that in light of the guidance provided by Sandisk, Lexar and Samsung over the past couple of days, firm is taking a preemptive measure to lower the bar for gross margin in 2Q04 for M-Systems to 23.4% from 26.5% and FY04 to 26% from 27.4%. Firm still enthusiastic about the stock and would be a buyer on significant pressure based on Lexar's guidance. Firm believes that M-Systems will see significant revenue growth in 2004/2005 based on the underlying growth trends in USB flash drives and multimedia wireless handsets segment as well as a need for higher density flash memory storage. In addition, firm believes FLSH will be able to drive increased customer penetration for its DiskOnKey and Mobile DiskOnChip products (62% of co's sales) based on its IP.

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