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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2902)	6/8/1999 2:32:00 PM
From: Mort	Read Replies (1) \| Respond to of 5867

RESEARCH ALERT- LAM, Novellus, AMAT started June 8, 1999 08:23 AM NEW YORK, June 8 (Reuters) - Warburg Dillon Read analyst Byron Walker started coverage of semiconductor equipment makers LAM Research Corp. LRCX , Applied Materials Inc. AMAT and Novellus Systems Inc. NVLS Tuesday with ratings of buy. -- In a report, he set a price target of $69 for Novellus. -- "We expect Novellus to outpace its peers as the SPE (semiconductor production equipment) industry recovers and are forecasting solid revenue and earnings growth through 1999 and 2000." -- Walker set a price target of $67 for Applied Materials. -- "Its broad set of successful products, established global market share and operating leverage provide it with considerable earnings power," he wrote. -- He set a price target of $47 for LAM Research. The company has "fixed its manufacturing problems and after a string of one-time restructuring charges has wrung out the organization." -- Novellus closed at 54-13/16, LAM Research closed at 30-5/16 and Applied Materials closed at 61-13/16. ((-- New York technology desk, (212) 859-1860)) REUTERS