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

To: Steve Fancy who wrote (1481)	5/27/1998 8:12:00 PM
From: Todd D. Wiener	Respond to of 3813

Steve- I still think that $28 is possible within the next few months. We might see a little dead cat bounce rally before resuming the decline. I am watching the equips right now, but I have no exposure, long or short, to any of them. It might be 6 months or longer before there is an uptick in orders, so I'm not in any hurry to buy NVLS or AMAT. Todd

To: Steve Fancy who wrote (1481)	5/28/1998 2:37:00 PM
From: Sonki	Read Replies (1) \| Respond to of 3813

hi steve! i m in big . did u sell puts on this? here is targets on nvls. NOVELLUS SYSTEMS (NVLS) 39 3/8 +2 3/16. Merrill Lynch analyst Mark Fitzgerald wins the May award for the most comprehensive analysis of a stock. In his notes on leading chip equipment Novellus Systems, Mr Fitzgerald does an excellent job outlining facts, projections, and perceptions, while also answering the question that all investors want to know, "How much can I make? and the question that many ask but are rarely given an answer to, "How much could I lose?" The following is a synopsis of the research report. Rating: near-term "accumulate," long-term "buy"; Reasons For Owning: strong management team, impressive pipeline of new products, stock trades at discount to overall market and other large cap stocks within its group. EPS Estimates: FY98= $2 (P/E 19.7); FY99= $3.15 (P/E 12.5); Expected Top-Line Growth: FY98= 15%; Comments: company likely to experience a near-term decline in earnings as sales increase, but R&D spending rise to 22% of total sales from 17% in FY97 and 12% in FY99; Price Target: $60; Downside Risk: $30 to $32 range.