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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (5072)	12/8/1998 3:32:00 PM
From: Mark Oliver	Read Replies (2) \| Respond to of 9256

Shares of Read-Rite Corp. (RDRT) rose 14 percent after analysts at Hambrecht & Quist raised the company's rating to "buy" from "hold." H&Q analyst Patrick Ho also improved his first-quarter estimate to a loss of 10 cents from a loss of 20 cents a share. The current First Call Consensus estimate is a loss of 18 cents a share. In a research note, Ho said he believes Read-Rite's overall business prospects are continuing to steadily improve, citing strength in the areas of supply-demand balance in the disk drive industry and productivity increases at Read-Rite. Ho also upped his estimates for the company's fiscal 1999 to 30 cents a share from 10 cents a share and initiated a 6-month target price of between $18 to $20 a share. In the near-term, Read-Rite will experience an increase in volume shipments and higher yields will boost margins and earnings, he said. Read-Rite shares jumped 1 13/16 to 16 5/8.