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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (5199)	1/29/2003 8:37:36 AM
From: Proud_Infidel	Respond to of 25522

This is the third time in about two weeks that stocks in the sector, or the sector itself, have been upgraded. FWIW NVLS this AM has both an upgrade and a downgrade: 7:27AM Novellus estimates cut at UBS (NVLS) 29.53: UBS reducing estimates following co's earnings report, in order to account for a slower ramp in gross margin improvement, as well as the acquisition of SFAM. Firm's CY03 est goes to $0.40 from $0.52 and CY04 to $1.00 from $1.16. Price target is cut to $30 from $38. Firm maintains its Neutral rating. 7:42AM Novellus upgraded at Merrill Lynch (NVLS) 29.53: -- Update -- Merrill Lynch upgrades to Buy from Neutral based on the co's improving outlook driven by their high exposure to leading edge technology, as well as attractive valuation; raises 2003 est to $0.55 from $0.45 and 2004 to $1.57 from $1.45. Price target is $40.