[alingtonsky]

January 26, 2010

RBC Capital analyst Mahesh Sanganeria this morning raised his rating on Novellus (NVLS) to Top Pick from Outperform, lifting his price target on the semiconductor equipment company to $31, from $25.
“While we have been expecting an incremental market share gain with memory transitioning to copper, we believe the company has secured a significant design win for a full range of deposition products in the copper transition at a large memory customer, creating an inflection instead,” he writes in a research note. The analyst says the win sets the stage for market share improvement in the PVD - physical vapor deposition - sector to 30%, from 5%.
Sanganeria hiked his 2010 EPS forecast go $1.80, from $1.12.

Novellus Named “Top Pick” By RBC; Ups Target; Sees Big Win In Memory Sector - Tech Trader Daily - Barrons.com


Shares of Applied Materials and Novellus rose Tuesday after the two major semiconductor equipment companies were upgraded by analysts.
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Applied, Novellus upgraded, shares rise - MarketWatch