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

To: Johnny Canuck who wrote (41049)	4/14/2004 12:04:45 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70551

09:36 IDCC Interdigital Comm started with a Buy at IRG, tgt $27 (17.04 -0.13) IRG initiates coverage of InterDigital Communications with Buy rating and $27 price target. With many leading wireless OEMs as licensees, the company is well-positioned to benefit from wireless-industry spending as it transitions from 2G to 3G platforms. Catalysts include favorable arbitration resolution with Nokia and Samsung, share gains by current licensees, signing additional licensees, and market acceptance of a full W-CDMA (3G) solution. Firms $27 price target is based on a blended multiple of 2005E EPS. With only one direct comparable (Qualcomm), a peer-group valuation is not possible. InterDigital has a solid balance sheet, with $1.80 in cash per share and little debt. Also, its products typically carry 100% gross margins. 09:35 EMS sector should post strong Q1 revs -- Thomas Weisel Thomas Weisel previews Q1 for the EMS sector. The firm expects strong revenue numbers, reflecting a broad-based recovery in key end markets, but the earnings picture continues to be mixed. The firm believes FLEX has the best chance to beat its EPS forecast with others making the numbers, but CLS may struggle. After JBL, FLEX is clearly the best of the rest. The firm expects SANM to meet estimates though there is greater likelihood of top line upside.