Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Goldman Ups Novellus Estimates


Goldman Sachs raised its estimate on Novellus Systems (NVLS).

Analyst James Covello says during a mid-quarter call, Novellus raised the $305 million to $325 million second-quarter revenue guidance to $325 million to $335 million, and upped the earnings per share estimate to 25 cents to 27 cents, vs. his 22 cents estimate and the Street's 21 cents estimate.

Covello raised his $1.00 fiscal 2004 (Oct.) earnings per share estimate to $1.10 on the higher-than-expected shipment flow-through model. He keeps his in-line rating, saying it's too late in the fundamental cycle to overweight the semi-equipment stocks.

For investors who must maintain some exposure to the group, he says Novellus' solid mid-quarter update will likely generate some near-term relative outperformance given its significant underperformance in 2003 and to date in 2004.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus