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Politics : Formerly About Applied Materials

AMAT 252.25

+0.9%

Nov 28 9:30 AM EST

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To: Proud_Infidel who wrote (28841)	3/4/1999 4:49:00 PM
From: Duker	of 70976

Merrill Lynch Raises ASML Intermediate Term To "BUY" [From the article: They said the orders "may indicate a shift in profitability back to the semiconductor sector, as capacity excesses may have been worked out of the system." Was this from Mr. Fitzgerald? ... One of the early bears in the sector (and right he was sometime back). Just some more noise for the thread. --Duker] Dow Jones Newswires -- March 4, 1999 AMSTERDAM (Dow Jones)--Merrill Lynch analysts upgraded their intermediate-term recommendation for shares in Dutch semiconductor equipment maker ASM Lithography Holding (ASML) to buy Thursday, forecasting that the company will turn a profit in the first half of 1999. ASML said when it released full-year earnings in January that it expects the first half of 1999 to be "the same" as the second half of 1998, when it posted a marginal net loss of NLG3 million (EUR1=NLG2.20371). In a report, Merrill Lynch analysts said that ASML's third major order so far this year, an order from Hyundai Semiconductor America announced Wednesday, "should seal a return to profitability in the first half of 1999." They said the orders "may indicate a shift in profitability back to the semiconductor sector, as capacity excesses may have been worked out of the system." The analysts set a 12-month price target of EUR52 for the share, and said that a recent price correction "is a buying opportunity." At 1248 GMT ASML was down 5 cents, or 0.1%, at EUR36.00. Merrill Lynch's previous intermediate recommendation for ASML was accumulate. The long-term recommendation remains unchanged at buy.

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