Novellus Message Board - Msg: 4629705

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Steve Fancy who wrote (1481)	5/28/1998 2:37:00 PM
From: Sonki	Read Replies (1) of 3813

hi steve! i m in big . did u sell puts on this? here is targets on nvls. NOVELLUS SYSTEMS (NVLS) 39 3/8 +2 3/16. Merrill Lynch analyst Mark Fitzgerald wins the May award for the most comprehensive analysis of a stock. In his notes on leading chip equipment Novellus Systems, Mr Fitzgerald does an excellent job outlining facts, projections, and perceptions, while also answering the question that all investors want to know, "How much can I make? and the question that many ask but are rarely given an answer to, "How much could I lose?" The following is a synopsis of the research report. Rating: near-term "accumulate," long-term "buy"; Reasons For Owning: strong management team, impressive pipeline of new products, stock trades at discount to overall market and other large cap stocks within its group. EPS Estimates: FY98= $2 (P/E 19.7); FY99= $3.15 (P/E 12.5); Expected Top-Line Growth: FY98= 15%; Comments: company likely to experience a near-term decline in earnings as sales increase, but R&D spending rise to 22% of total sales from 17% in FY97 and 12% in FY99; Price Target: $60; Downside Risk: $30 to $32 range.

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