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To: Johnny Canuck who wrote (37026)	5/15/2002 10:32:00 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69762

8:46AM Wireless Facilities upgraded at Gerard Klauer (WFII) 5.10: Gerard Klauer Mattison upgrades to OUTPERFORM from Neutral based on recent contract wins and the expectation that sequential growth returns in Q2 and YoY growth returns in Q4 and continues through 2003; believes that increased outsourcing, the impact of the Cingular contract, and a change to a variable cost model will drive future growth and profitability. Lowers 2002 est to ($0.12) from $0.04 and new price target is $8. 8:05AM UTStarcom positioned to exceed guidance-- CSFB (UTSI) 22.90:CSFB says that UTSI is well positioned to exceed guidance for Q1, and believes there is upside to their Q2 rev est of $205 mln and EPS of $0.23, which is at the high end of mgmt guidance; firm cites strong backlog, better visibility, expected handset upside (which carry improving gross margins), and international growth. Reiterates Strong Buy rating and $40 price target. 7:43AM Anadigics upgraded at WR Hambrecht (ANAD) 12.02: WR Hambrecht upgrades to MKT OUTPERFORM from Mkt Perform based on the belief that the co is executing well in the CDMA PA space and has a solid broadband business. Price target is $16. 7:22AM Mattson upgraded at BearStearns (MTSN) 8.38: Bear Stearns upgrades to BUY from Attractive based on the belief that the co has dealt with the worst of the downturn as well as the worst of its integration issues; also, growth is accelerating, upside potential is quite good, and the stock is still trading at somewhat of a discount. Price target is $15. 7:17AM QLogic downgraded at Bear Stearns (QLGC) 52.70: Bear Stearns downgrades to NEUTRAL from Attractive based on valuation; stock has exceeded $50 price target, and firm is also concerned about IDC's recent preliminary revisions of their forecasts for the SAN infrastructure mkt that are sharply below IDC's previous and current Dataquest estimates. 7:12AM Applied Materials downgraded at Deutsche Bank (AMAT) 26.64: Deutsche Bank downgrades to BUY from Strong Buy based on the following concerns: expectations for slowing DRAM momentum, absolute order levels, highest order growth now in rear view mirror, summer seasonality, and valuation. Raises CY02 est to $0.33 from $0.27 and CY03 to $0.85 from $0.75.