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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: advocatedevil who wrote (56805)	12/3/2001 2:37:00 PM
From: advocatedevil	Respond to of 70976

Adams, Harkness & Hill Breaking News December 3, 2001 News about Semiconductor Capital Equipment and TAP Industries; ICTG and OAKT Semiconductor Capital Equipment Upgrade AEIS, BRKS, CGNX, CYMI, LRCX; Downgrade RTEC * The severity off the current downturn has resulted in under-spending for new technology by most semiconductor manufacturers. This will, we believe, result in a prolonged upturn. * We are now forecasting peak of next cycle to be 2005 (previously we had expected 2004), and have revised our peak-to-peak valuation model to derive nine- to 12-month price targets. * Semiconductor fundamentals are starting to show signs of improvement as excess inventories continue to decline. Such positive news is driving the stocks as investors focus on upturn. * Reiterate Strong Buy ratings on Varian Semiconductor Equipment (VSEA, $31.46) and Therma-Wave (TWAV, $11.08). Target prices increase for VSEA from $59 to $71 and TWAV from $21 to $23. * Upgrading Advanced Energy (AEIS, $23.66), Brooks Automation (BRKS, $36.75), Cognex (CGNX, $22.40), and Cymer (CYMI, $23.55) to Strong Buy from Buy. Target prices increase for AEIS from $28 to $37; BRKS from $47 to $59; CGNX from $28 to $35; and CYMI from $30 to $37. * Upgrading Lam Research (LRCX, $21.92) to Buy from Market Perform. Target goes from $21 to $29. * Lowering Rudolph Technologies (RTEC, $37.27) to Market Perform from Buy based on valuation. Fred Wolf 617-371-3713 Note - I copied this info from a Yahoo! thread post at: messages.yahoo.com AdvocateDevil