Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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Dec 19 3:59 PM EST

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To: etchmeister who wrote (17215)	1/17/2006 3:51:11 PM
From: Proud_Infidel	Read Replies (2) of 25522

Novellus Could Gain On Strong Q1 Orders Guidance Kate DuBose Tomassi, 01.17.06, 3:19 PM ET RBC Capital Markets analyst Stuart Muter raised the price target on Novellus Systems to $27 from $26 and lifted earnings-per-share estimates ahead of the chip equipment maker's fourth-quarter earnings report. The research analyst said he expects fourth-quarter orders to come in up 10% to 15%, above the company's Nov. 29 guidance of up 5% to 10%. In addition, Muter said potential upside orders guidance for the first quarter could spark gains for Novellus shares. "We believe that because of specific customer exposure (Samsung, Hynix, Intel (nasdaq: INTC - news - people ) and Fujitsu), the company will out-perform with respect to first-quarter orders, which should move the stock up in the near-term," the analyst wrote in a note to clients. "Therefore, we recommend that nimble investors take a long position in the stock ahead of the earnings call for a quick trade." The analyst raised 2006 EPS estimates to $1.52 on revenue of $1.59 billion, up from EPS of $1.46 on revenue of $1.56 billion. For 2007, the analyst introduced an estimate of 91 cents on $1.34 billion. Despite recent investor concern regarding the company's gross margins, the RBC analyst continues to expect Novellus to reach its 49% gross margin forecast by the fourth quarter of 2006. Novellus is set to announce fourth-quarter earnings on Jan. 25.

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