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

To: Johnny Canuck who wrote (43449)	7/26/2006 4:36:59 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70981

09:16 am Cymer: Banc of America Sec upgrades Neutral to Buy. Firm upgrades due to valuation. With the stock down over 25% since May (vs. -4% for the S&P500), firm now thinks it's a good time to accumulate shares. Lithography remains firm's favorite segment, based on view that adoption of new set of technologies (ArF/immersion) will increase ASP. Weakness in June bookings and backlog, down 5% and 7% respectively, will likely pressure the stock short term. But, firm is confident that CYMI's market share dominance will track the lithography market trends over multiple quarters. Firm lowers target price to $45.50 (from $55.50) assuming a 13x multiple on fully-taxed option adj FY07 EPS of $3.03 and adding back $6 in excess cash... CYMI trading at $34.95 in pre-mkt, after falling to the $32 area last night.