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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (39702)	7/28/2008 12:49:27 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95617

Teradyne 9:36 AM ET 7/28/08 \| Briefing.com Target $16 to $13. Friedman Billings is trimming their ests on TER and cuts their tgt to $13 from $16. Although firm expects the shares to remain in a trading range due to macro factors, they believe the longer-term risks/rewards are attractive, especially when considering how much (4%-6%, pro forma basis) profit margin TER is generating in the current down-cycle, vs. massive losses in the previous down-cycles. Firm's new CY08 rev/pro forma/GAAP EPS ests are $1.190 bln/$0.45/$0.16, while their CY09 ests have changed to $1.284 bln/$0.63/$0.48 (consensus FY08 $0.58 and $1.227 bln, FY09 $.74 and $1.299 bln).