WR Hambrecht Ups Genesis Microchip to Buy

From Standard & Poor's Equity Research

WR Hambrecht upgraded Genesis Microchip (GNSS) to buy from hold, noting the company's cheap stock price amid low Street expectations.

Analyst Michael Bertz sees potential upside to the Street's expectations for $66.8 million second quarter revenue (he's at $70.8 million.) He also maintains his 49 cents fiscal year 2007 (ending March) EPS estimate. He sets a $17 stock price target.

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