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

To: Johnny Canuck who wrote (40995)	4/8/2004 12:00:16 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70664

07:15 LU upgraded at UBS; tgt raised to $4.30 (4.42 ) UBS upgrades Lucent to Neutral from Reduce and raises its target to $4.30 from $3.75 due to further strengthening of its wireless business, particularly in the US. The firm's checks suggest strong wireless momentum for Lucent, in part driven by aggressive network upgrades by Verizon and Sprint PCS. The firm maintains 2Q EPS est at $0.04, but raises rev est to $2.25 bln from $2.15 bln. F04-05 EPS ests move to $0.17 and to $0.22 from $0.15 and $0.20, respectively. The firm remains concerned about Lucent's large healthcare obligations for union retirees, which they see as a major overhang in the stock value if not addressed. 07:29 LXK Lexmark estimates, target raised at UBS (91.8 ) UBS maintains their Buy rating on LXK, raises their 2004-05 ests above consensus, and raises their target to $107 from $98; firm cites: 1) continued benefits from the Dell OEM agreement, 2) relatively stable hardware ASP's near-term, 3) prospects for higher consumable sales, and 4) stable to increasing mkt share for LXK-branded products. RIMM Research In Motion: Analyst raise tgts post-earnings, traders disappointed by magnitude of revenue upside (107.98 ) RIMM reported another solid quarter aided by higher than expected gross margin, although the magnitude of upside was not as great as in the past. While RIM's growth potential remains strong with multiple catalysts, Bear Sterns maintains a Peer Perform rating saying that stock is fully valued... Co's revs of $210.6 mln came in just a tad above CIBC's $210 mln est, and gross margins of 49.1% were 210 bp ahead of est due to a better mix of revs; firm raising tgt to $150 from $115... Merrill Lynch increases estimates due to greater forecast demand and enhanced profitability; for F05 goes to $2.95 from $2.82, for F06 to $3.40 from $3.29 and rev ests for F05 to $1.16bn from $1.13bn and for F06 to 1.38bn from $1.34bn. The firm reiterates Buy rating and increases price target to $121. 08:05 RFMD RF Micro Device reaffirms Q4 revs in line (8.71 ) Company confirmed March 2004 quarterly revenue guidance in an interview Wed afternoon with Reuters. Co anticipates March quarterly revenue will be at high end of range of approx $152-163 mln (originally provided in its Jan. 20), vs the Reuters Research consensus of $160.9 mln... see Briefing.com note yesterday at 14:25. 08:11 PWAV CIBC reduces Q1 and Y04 estimates for Powerwave (8.44 ) CIBC is cutting Q1 estimates for revs to $63 mln (previously $75 mln) and EPS to a loss of $0.06 (previously a loss of $0.01), which is at the low end of mgmt guidance, Reuters consensus is $69 mln and a loss of $0.02, respectively. Also cutting Y04 rev est to $301 mln (previously $313 mln). Firm believes that potentially 15% of the revs are at risk due to the AT&T Wireless/Cingular Wireless merger and that reduced cap-ex spending in certain markets for both carriers has affected revs. Normal seasonal softness with the OEM channel in the March Q, coupled with some ramping issues at NOK (SP), may have also affected Q1 sales; Firm remains concerned that gross margins continue to be under pressure and cite significant ASP erosion on GSM products for Nortel (SP) as an example