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Technology Stocks : Semi Equipment Analysis
SOXX 328.78+2.9%Jan 9 4:00 PM EST

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To: robert b furman who wrote (17522)8/2/2004 11:18:04 AM
From: Donald Wennerstrom  Read Replies (1) of 95703
 
KLA-Tencor "top pick," target price reduced

<<Monday, August 02, 2004 5:42:44 AM ET
RBC Capital Markets

NEW YORK, August 2 (New Ratings) - Analyst Stuart Muter of RBC Capital Markets maintains his "top pick" rating on KLA-Tencor (KLAC.NAS), while revising his estimates for the company. The target price has been reduced from $63 to $56.

In a research note published on July 30, the analyst mentions that the company reported its June quarter revenues in-line with and EPS ahead of the estimates. The earnings upside was driven by impressive gross margins, the analyst says. The company announced disappointing order guidance for the September quarter, according to RBC Capital Markets. The EPS estimate for 2004 has been raised from $1.90 to $2.08, while the EPS estimate for 2005 has been reduced from $2.64 to $2.32.>>
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