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

CIBC Ups Lexar Media


CIBC World ups Lexar Media (LEXR) to sector outperform.

Analyst Daniel Gelbtuch says he's upgrading Lexar Media from sector underperform following a $381 million verdict in Lexar's favor in Toshiba trade-secrets case.

He notes the jury also found an award of punitive damages (arguments begin today), which represent an additional upside. He says under California law, punitive damages could be as high as $1.96 billion, though he sees an award of $1 billion as more realistic.

Gelbtuch notes $1 billion would represent $12.64 cash per Lexar share. He sets a $7 price target and plans to update the model for Lexar after the company hosts a conference call. He currently sees a 72-cent 2004 loss and a 40-cent 2005 loss.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus