UBS Raises Intersil to Buy

Analyst Alex Gauna says the company's market fundamentals are healthy

UBS Warburg raises Intersil (ISIL ) to buy from hold and raises its target on the stock to $40, from $37, or 1.5 times 27% the compounded annual growth rate.

Analyst Alex Gauna believes the company can reach targets in the Wireless LAN area over his forecasted horizon. He says that checks at the Consumer Electronics Show indicate the company's dominant position in 802.1lb is secure and market fundamentals are healthy. Gauna thinks the company's roadmap for next-generation solutions is unparalleled and will effectively leverage the company's strong installed base. He says that sound indications on Intel 4 processor trends heading into 1Q bode well for the company, given its strong power technology attachment to that product. Gauna sees $0.60 in 2002 EPS, $1.00 in 2003.

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