JP Morgan Ups Opinion on Chip Equipment Group

Applied Materials, KLA-Tencor, Novellus, Teradyne and Varian Semi were upgraded to long-term buy

JP Morgan Chase raised its rating on a number of semiconductor equipment stocks. The firm upped ratings on Applied Materials (AMAT ), KLA-Tencor (KLAC ), Novellus Systems (NVLS ), Teradyne (TER ) and Varian Semi (VSEA ) to long-term buy from market perform on the belief that the worst is known and that chip bookings reflect broad stabilization.

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