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Morgan Stanley Boosts Silicon Labs Outlook

Morgan Stanley raised estimates and reiterates overweight on Silicon Labs (SLAB).

Analyst Mark Edelstone believes wireless revenues will lead to another quarter of explosive sequential revenue growth and positive a earnings per share surprise. He notes 13 customers have designed over 30 products with the company's Aero transceiver, and full-type approval has already been granted to eight different products.

Given the solid execution, and the company's first-of-a-kind product portfolio, he thinks growth will remain explosive and drive the stock price significantly higher.

Edelstone raised his $0.22 2002 EPS estimate to $0.25, and upped the $0.53 estimate to $0.57. He has a $50 target, and maintains his attractive view of the semiconductor industry as a whole.

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