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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (25866)	10/30/1998 8:43:00 PM
From: Jeffrey D	Read Replies (1) \| Respond to of 70976

Brian:<<Applied Materials Inc. (AMAT) Prudential Securities initiates coverage of semiconductor wafer fabrication equipment maker with "accumulate" with a price target of $45 a share>> Hi Brian. Below is the full story. Jeff <<RESEARCH ALERT- Prudential starts chip equip cos NEW YORK, Oct 30 (Reuters) - Prudential Securities on Friday said analyst John Pitzer initiated coverage of eight semiconductor equipment companies, and said that while further downside in the already weak sector will be limited, the likelihood of a recovery in the near term is slim. Pitzer started five stocks with a rating of accumulate: Applied Materials Inc. <AMAT.O>, ATMI Inc.<ATMI.O>, ElectroScientific Industries Inc. <ESIO.O>, Novellus Systems Inc. <NVLS.O>, and Veeco Instruments Inc. <VECO.O>. He started three stocks at hold: Kulicke & Soffa Industries Inc. <KLIC.O>, Lam Research Corp. <LRCX.O>, and Silicon Valley Group Inc. <SVGI.O>. "A steep reduction in capital spending combined with the removal of existing capacity from the marketplace should move the semiconductor industry from over-capacity to under-supply in late 1999, providing the basis for above trend-line equipment growth in 2000," he said. In a research note on the industry leader, Applied Materials, Pitzer said: Applied Materials should be a "core technology holding," noting that it is a "dominant force" in the industry. The company is positioned to gain market share even during tough times, and set a price target of $45 a share. Shares of Applied rose to 35-3/4, up 5/16 on Friday. Shares of ATMI fell 5/16 to 13-3/4 Shares of Electro Scientific Applied rose 3/8 to 26-1/8. Shares of Novellus rose 1-3/16 to 40-1/8. Shares of Veeco rose 9/16 to 29-9/16. Shares of Kulicke & Soffa were unchanged at 17. Shares of Lam Research climbed to 15-3/8, up 7/8. Shares of Silicon Valley rose 15/16 to 13-3/4. 12:01 10-30-98