Deutsche Bank Starts Novellus (NVLS) at Hold; Balanced Risk-Reward
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Price: $2.40 --0%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Deutsche Bank initiates coverage on Novellus (NASDAQ: NVLS) with a Hold. PT $33.00.
Deutsche analyst says, "We expect NVLS to be a primary beneficiary of industry adoption of 3-D NAND, 3-D packaging as well as increased deposition requirements at 28nm node. Solid execution in core/adjacent markets along with recently announced share buy-back program should provide sufficient downside valuation support, in our view. That said, with potential risk of another guide down likely during the upcoming mid Q update call (Dec 5), expectations of continued market share challenges in core PVD segment and with shares generally trading at a premium to peers, we believe risk-reward is balanced."
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 $31.57 yesterday.
Deutsche analyst says, "We expect NVLS to be a primary beneficiary of industry adoption of 3-D NAND, 3-D packaging as well as increased deposition requirements at 28nm node. Solid execution in core/adjacent markets along with recently announced share buy-back program should provide sufficient downside valuation support, in our view. That said, with potential risk of another guide down likely during the upcoming mid Q update call (Dec 5), expectations of continued market share challenges in core PVD segment and with shares generally trading at a premium to peers, we believe risk-reward is balanced."
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 $31.57 yesterday.
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