The Financial Post today:
Friday, April 3, 1998
Gordon Capital ups ATI Technologies target
TORONTO, April 3 (Reuters) - Gordon Capital analyst Valentine Lee said on Friday he had increased his 12-month price target on ATI Technologies Inc. to C$100 a share from C$75 and kept his recommendation at a buy rating.
ATI Technologies soared to a 52-week high of 69 on the Toronto Stock Exchange on Friday, but then slipped to 65 in late-day trading. The Toronto-based company, which makes graphics accelerator chips to
enhance computer graphics, rocketed from a 52-week low of 16.
Lee said ATI's booming sales warrant an adjustment to a new, higher stock target. "It's within reach: business is doing very, very well," he said. "The next two quarters are going to be very good quarters for
them, so off they go."
ATI's profit in its first quarter, ended November 30, 1997, rose to C$38.5 million, or C$0.73 a share, up nearly 200 percent from C$13.1 million, or C$0.26 a share, a year ago.
Next week ATI will post its second quarter results and New York-based I/B/E/S International showed two analysts' earnings estimates at C$0.60 a share and C$0.73 a share. ($1 $1.42 Canadian) |
