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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?

To: Berk who wrote (3646)	12/6/2006 4:10:31 PM
From: heavenly	Respond to of 3813

S&P REITERATES HOLD RECOMMENDATION ON SHARES OF NOVELLUS SYSTEMS S&P Marketscope - December 05, 2006 3:11 PM ET The shares have risen 25% in the last 30 days, compared with about a 15% increase for peers. We believe the increase is being driven by an unconfirmed report on Bloomberg suggesting that Tokyo Electron may be interested in acquiring NVLS, though we will not speculate on that possibility. The company in a mid-quarter update yesterday raised its Q4 EPS guidance to $0.54-$0.57 from $0.49-$0.53 but lowered its outlook for Q4 orders. We are increasing our '06 EPS estimate by $0.06 to $1.72, '07's by $0.36 to $1.72, and our target price by $6 to $35, a 10% P/E-premium to peers.

To: Berk who wrote (3646)	12/6/2006 7:26:18 PM
From: etchmeister	Read Replies (1) \| Respond to of 3813

RE Goldman et al In case you analyse the analyst you find the one's who are fretting about a merger/buyout is the analyst community - there was never a good reason provided why a buyout would make sense. I don't recall one. However quickly several reasons were provided why it would not make sense and the perception was created that the runup is strictly due to the buyout rumor. Six minutes into the call which took place 2 days ago (around 6:06 AM PST) R. Hill put the rumor to bed. So Covello waits to lets the first wave of shorts fried and than cites NAND weakness. Hey what about DRAM strength - oh yeah it echoes in my ear "DRAM will cause the next leg down". The guy did not even come close... gimme a break you "experts" and I would not be surprised the buyout rumor originated among the sell side community - setting up for failure by raising unrealistic expectations... 6-Dec-06 Goldman Sachs Downgrade Neutral Sell 30-Nov-06 Stifel Nicolaus Downgrade Hold Sell 21-Nov-06 Needham & Co Downgrade Buy Hold 8-Nov-06 Caris & Company Downgrade Buy Above Average 30-Oct-06 RBC Capital Mkts Downgrade Outperform Sector Perform 24-Oct-06 HSBC Securities Initiated Neutral 18-Oct-06 Global Crown Capital Downgrade Overweight Neutral 9-Oct-06 Am Tech/JSA Research Downgrade Buy Neutral 6-Oct-06 Citigroup Downgrade Buy Hold 5-Sep-06 Susquehanna Financial Downgrade Neutral Negative