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Technology Stocks : Electro Scientific???

ESIO 29.99

0.0%

Feb 1 4:00 PM EST

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To: Mark Oliver who wrote (378)	5/5/1998 4:24:00 PM
From: vinh pham	Read Replies (2) of 723

Here is the actual release. Looks like the Prudential guy moved over to Smith & Barney. May 5, 1998 11:07 AM NEW YORK, May 5 (Reuters) - Salomon Smith Barney said on Tuesday analyst Milind Bedekar started coverage on shares of semiconductor equipment companies, including Applied Materials Inc. AMAT with a buy rating. -- Expects Applied Materials bookings of $900-$950 million for the second quarter and expects next round of earnings cuts on company to be the last. Stock up 1/2 to 36-3/8. -- Novellus Systems Inc. NVLS started as outperform with $51 price target. Believes Novellus and Applied are breaking away from the pack in supplying metallization solutions for 0.25/0.18 micron and damascene devices. -- Novellus stock up 1/2 to 48-3/8. -- Nanometrics Inc. NANO started with buy rating and $15 per share price target. With its leadership position in 300 millimeter film thickness measurement and a competitive product line-up for the 200 millimeter generation, believes company is well-positioned to steadily gain share. Stock up 1/4 to 9-3/4. -- Lam Research Corp. LRCX started as buy with $45 price target. Expects operations to turn around in next six to nine months and that over next one to one and a half years Lam would be able to successfully accomplish a product turnaround. Stock up 4/16 to 31-7/16. -- Kulicke & Soffa Industries Inc. KLIC started as outperform with $25 per share price target. Believes most of Korean cutbacks, Taiwanese adjustments and Intel Corp. INTC related reductions are behind the company. Stock flat at 20-3/4. -- KLA-Tencor KLAC started as buy rating with $61 price target. Believes current stock multiple reflects industry uncertainty and expects multiple expansion as bad news ebbs over next two to three months. Stock up 14/16 to 41-1/16. REUTERS -- Electro Scientific Industries Inc. ESIO started as buy with $53 price target. With only 40 percent exposure to cyclical semiconductor equipment business, believes Electro Scientific's revenue stream is resilient as head into downturn. Stock up 1-1/2 to 38-1/2. -- Starts Credence Systems Corp. CMOS with buy rating, $46 per share price target. Believes Credence can grow revenues at rates faster than test industry growth rate of 15 percent due to steady expansion of served markets and continued market share gains. Stock up 1-7/8 to 27-7/8. REUTERS -- ATMI Inc. ATMI started as outperform and a $33 per share price target. Company's business model is unique in its ability to avoid cyclical forces that plague equipment industry. Stock down 7/8 to 26. -- Asyst Technologies Inc. ASYT started as buy and a $38 price target. With almost no exposure to Korea and Japan they believe company has one of best geographic profiles in current slowdown. Stock up 1-1/8 to 22. ((Wall Street desk 212-859-1730)) REUTERS

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