Wachovia Upgrades Altera (ALTR) to Outperform
More News related to ALTR
- Michael Nevens Joins Altera Board of Directors
- Morgan Stanley Downgraded U.S. Semiconductor Stocks to Cautious; Downgrades Intel (INTC) and Others
- Altera's New Cyclone IV FPGA Expands Reach of Cyclone FPGA Series
- Altera Continues Its 2X to 3X Compile Time Advantage with Quartus II Software Version 9.1
- Arria II GX Device Wins Embedded System Editor's Choice Award for Best FPGA Product
More News related to Upgrades
- Credit Suisse Raises Rating on European Equities from Underweight to Overweight
- Canaccord Adams Upgrades Pan American Silver (PAAS) to Buy
- National Bank Upgrades Pengrowth Energy (PGH) to Outperform
- Ardour Capital Upgrades Capstone Turbine (CPST) to Accumulate
- Global Hunter Securities Upgrades Petroleum Development Corp. (PETD) to Buy
Wachovia upgrades Altera (Nasdaq: ALTR) from Market Perform to Outperform.
Wachovia analyst says, "For 2010 we are estimate sales of $1.38 billion for Altera (up 11% year over year) and EPS of $1.00. We are raising our valuation range for Altera to $18-22, from a prior $15-19, based on 18-22x our FY10 EPS estimate of $1.00. This valuation range is consistent with the company's historical valuation over the past few years. Company-specific risks include inventory risk and competition, chiefly from Xilinx. Sector risks include possible slowing in end-market demand, especially in communications."
Altera Corporation designs, manufactures and markets programmable logic devices (PLDs), HardCopy structured application-specific integrated circuit (ASIC) devices, pre-defined design building blocks known as intellectual property cores (IP cores) and associated development tools.
Related Categories
UpgradesStocks Mentioned
+0.20Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
