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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Highway Jim who wrote (1119)	11/21/1998 4:21:00 PM
From: Tim Luke	Read Replies (1) \| Respond to of 90042

Texas Instruments, Intel off on downgrades By Tiare Rath, CBS MarketWatch Last Update: 4:41 PM ET Nov 20, 1998 NewsWatch SAN FRANCISCO (CBS.MW) -- Analysts doused Texas Instruments and Intel with cold water Friday, sending the semiconductor products companies' shares south. Breaking News Focus returns to domestic economy Portal power: What Bluefly has, Macy's lacks At last, info for all on muni bonds Surviving the NBA lockout with a smile NCDI: No takeover in works, CFO says More top stories... CBS MarketWatch Columns Updated: 11/21/98 12:55:52 PM ET Texas Instruments' stock (TXN) was lowered to "hold" from "buy" by the investment firm ABN Amro. Analysts said recent run-ups in the company's stock price is pushing price-to-earnings ratios. In a research note, the investment firm's analysts also dismissed other investment firms' raising 12-month price targets on Texas Instruments. BancBoston Robertson Stephens on Thursday boosted its 12-month price target to $100 a share from $75 a share. ABN Amro said the price-target increases "reflect little new fundamental information but more of the current euphoric investment sentiment." Chip-making giant Intel (INTC) got a mixed review from analyst Hans Mosesmann at Prudential Securities. The analyst raised his 12-month price target to $130 a share from $120 a share following what Mosesmann called "spectacular" recent performance by the company. Mosesmann, though, also painted the stock's gains as a negative, saying investors have pumped up the shares enough based on what it has to offer in the near term. He cut his rating on the company to "accumulate" from "strong buy." In addition, the analyst said Intel probably won't be able to meet demand for processors. But, he said, "We continue to be bullish on Intel's prospects in 1999." Intel's shares slipped 13/16 to 112 1/16, while Texas Instruments' stock dropped 5/8 to 76 5/8. Other semiconductor stocks were mixed: Motorola (MOT) powered up 3 3/8 to 61 5/8, while Advanced Micro Devices (AMD) fell 1 3/16 to 27 7/16.