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Pacific Growth Keeps Buy on Zoran

Pacific Growth reiterates buy on Zoran (ZRAN).

Analyst Brian Alger says a positive preannouncement from ESS Technology (Zoran's chief competitor) is good news for Zoran. ESS cited strength in the DVD and VCD markets. Alger says strength in the DVD market could be more positive for Zoran, who expected to see 90% of its revenues come from this rapidly growing space.

Alger expects Zoran to increase its share in the second half of 2002, closing in on ESS, the market unit leader. Furthermore, Alger expects the strong DVD market to draw investor attention as managers look for markets with profitable growth. With more than $200 million in cash and no debt, Alger says Zoran is a compelling investment. He sees $0.63 2002 earnings per share and $1.03 for 2003.

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