Goldman Sachs Adds Altera (ALTR) to Conviction Buy List
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Price: $111.85 --0%
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs added Altera (NASDAQ: ALTR) to its Conviction Buy with a price target of $44.
The firm sees an attractive entry point with strong fundamental drivers through 2012 at a time when expectations for carrier CapEx remain very low.
Goldman expects outperformance driven by: "(1) a strong recovery in carrier CapEx beginning in mid-2012 driven by a resumption in deployments and inventory restocking (first in Japan and the US, and later in China), with upside bias to our CapEx forecast for a 4% yoy increase; (2) PLD shipments reverting back up to trendline from 18% below today; (3) Continued share gains vs. Xilinx as 40 nm sales become the mainstream industry node."
For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.
Shares of Altera closed at $38.06 yesterday.
The firm sees an attractive entry point with strong fundamental drivers through 2012 at a time when expectations for carrier CapEx remain very low.
Goldman expects outperformance driven by: "(1) a strong recovery in carrier CapEx beginning in mid-2012 driven by a resumption in deployments and inventory restocking (first in Japan and the US, and later in China), with upside bias to our CapEx forecast for a 4% yoy increase; (2) PLD shipments reverting back up to trendline from 18% below today; (3) Continued share gains vs. Xilinx as 40 nm sales become the mainstream industry node."
For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.
Shares of Altera closed at $38.06 yesterday.
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