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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (40901)	4/1/2004 11:26:02 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70466

08:16 PHTN started with a Buy at First Albany, tgt $45 (32.63 ) First Albany initiates coverage on Photon Dynamics with Buy rating and $45 tgt calling the co one of only a handful of U.S.-based companies leveraged to the growth of the Active Matrix Liquid Crystal Display (AMLCD) market. Photon Dynamics' products test and inspect AMLCDs during the manufacturing process. Process control provides manufacturers with a high ROI, and it should grow at least as fast as the AMLCD equipment market. The firm estimates that capital equipment spending on AMLCD will grow 40% this year. With the shares trading 30x FY05 EPS estimate of $1.50 they think that the shares will command a premium, due to the scarcity of U.S. securities that are leveraged to the growth of flat panels