UBS Maintains a 'Neutral' on Novellus (NVLS); Executing Well Early On in This Upcycle

UBS maintains a 'Neutral' on Novellus (NASDAQ: NVLS) price target raised from $44 to $51.

UBS analyst says, "Reports solid 4Q11 results and upbeat 1Q12 order guidance of +25% q/q...Still expect Lam’s (Nasdaq: LRCX) pending acquisition of Novellus closes in 2Q12...Raising estimates given better near term semicap order visibility (FY12 EPS estimate from $2.65 to $3.00 and FY13 maintained at $3.40)

For an analyst ratings summary and ratings history on Novellus click here. For more ratings news on Novellus click here.

Shares of Novellus closed at $49.34 yesterday, with a 52 week range of $25.95-$49.50.

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