Needham Growth Conference Recap: Rick’s Bullish Industry Outlook - Reiterates 'Buy' on Novellus
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Price: $2.40 --0%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Novellus (NASDAQ: NVLS) price target of $51.75.
Needham analyst says, "Yesterday, we had the opportunity to host a “fire-side chat” with Novellus’s CEO Rick Hill at the Needham Growth Conference. Overall, Mr. Hill remains quite bullish on the industry, predicting the semiconductor equipment industry will experience a flat-to-up year in 2012, which would be significantly better than most projections. While NVLS cannot provide many details on the pending merger with Lam Research (Nasdaq: LRCX) (Buy), we continue to believe there are incremental opportunities in both product and cost synergies for the combined entity. Based on our belief that LRCX will outperform the industry in 2012 and our positive view on the merger, we continue to recommend investors buy NVLS (and LRCX)."
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 $44.13 yesterday.
Needham analyst says, "Yesterday, we had the opportunity to host a “fire-side chat” with Novellus’s CEO Rick Hill at the Needham Growth Conference. Overall, Mr. Hill remains quite bullish on the industry, predicting the semiconductor equipment industry will experience a flat-to-up year in 2012, which would be significantly better than most projections. While NVLS cannot provide many details on the pending merger with Lam Research (Nasdaq: LRCX) (Buy), we continue to believe there are incremental opportunities in both product and cost synergies for the combined entity. Based on our belief that LRCX will outperform the industry in 2012 and our positive view on the merger, we continue to recommend investors buy NVLS (and LRCX)."
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 $44.13 yesterday.
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