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Technology Stocks : Teradyne -- Ignore unavailable to you. Want to Upgrade?

To: Maverick who wrote (1043)	7/19/2000 5:34:02 PM
From: Jeffrey D	Read Replies (2) \| Respond to of 1184

Mav, I think you missed this one. From CS First Boston. Jeff COMPANY COMMENT Teradyne (TER, $67.50, BUY) Target (12 Months): $140 Q2's Bookings Pause Apt To Rebound In Q3 And Q4 Q2's Dip In Bookings Not A Red Flag - Unsustainably high Q1 Asian orders not repeated in Q2. Sequential growth on tap prospectively for Q3 and Q4. Driving The Top Line $100MM/Quarter - Q2's $111MM sequential revenue gain was achieved despite continued components shortages. With lead times at 5½ months and sequential order growth on tap, look for comparable rates of sequential revenue growth through year end. Slowing Margin Gains In H2 - Q2's lower-margined bookings mix is apt to cap margin expansion to perhaps 20-40 basis points per quarter, as opposed to Q2's nearly two-point gain. Annual EPS 12/01E $4.40 12/00E 3.15 12/99A 1.07