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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 215.32-0.2%Dec 30 3:59 PM EST

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To: Rink who wrote (155206)4/8/2005 5:57:57 AM
From: RinkRead Replies (2) of 275872
 
Follow up on yesterdays post: Chartered Semiconductor upgraded to "overweight"

NEW YORK, April 8 (newratings.com) - Analyst Fayad Abbasi of Prudential Financial upgrades Chartered Semiconductor (CHRT.NAS) from "neutral weight" to "overweight," while raising his estimates for the company. The target price is set to $8.

In a research note published yesterday, the analyst mentions that the initial yield data for the company's first 300mm fab is impressive. Chartered Semiconductor is poised to benefit in the near future from product migrations at its key customers and AMD production in 2006, the analyst says. Although Chartered Semiconductor's momentum is decelerating in 2Q05, the company's performance is expected to improve in 2H05 due to the ramp up of its new fab, according to Prudential Financial. The EPS estimates for 2005 and 2006 have been raised from -$0.74 to -$0.72 and from $0.08 to $0.45, respectively.

newratings.com

Regards,

RInk
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