Novellus Message Board - Msg: 23077388

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Berk who wrote (3646)	12/6/2006 4:10:31 PM
From: heavenly	of 3813

S&P REITERATES HOLD RECOMMENDATION ON SHARES OF NOVELLUS SYSTEMS S&P Marketscope - December 05, 2006 3:11 PM ET The shares have risen 25% in the last 30 days, compared with about a 15% increase for peers. We believe the increase is being driven by an unconfirmed report on Bloomberg suggesting that Tokyo Electron may be interested in acquiring NVLS, though we will not speculate on that possibility. The company in a mid-quarter update yesterday raised its Q4 EPS guidance to $0.54-$0.57 from $0.49-$0.53 but lowered its outlook for Q4 orders. We are increasing our '06 EPS estimate by $0.06 to $1.72, '07's by $0.36 to $1.72, and our target price by $6 to $35, a 10% P/E-premium to peers.

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