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Technology Stocks : Semi Equipment Analysis

SOXX 348.14

+3.2%

Jan 21 4:00 PM EST

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From: Donald Wennerstrom	3/29/2005 3:10:22 PM
	Read Replies (2) of 95748

Novellus Systems initiated with "hold" Tuesday, March 29, 2005 12:00:32 PM ET Legg Mason <<NEW YORK, March 29 (newratings.com) - Analyst Patrick Ho of Legg Mason initiates coverage of Novellus Systems Inc (NVLS.NAS) with a "hold" rating. The 6-12 month fair value is set to $29. In a research note published this morning, the analyst mentions that poor cost and expense execution has adversely impacted the company's margins and operating leverage over the past few years. Novellus Systems’ cost and expense execution continues to be weak, the analyst says. The company’s market share in several key areas is expected to come under pressure in the near future, with the recent product launches by Applied Materials, Legg Mason adds.>>

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