BlueStone Capital Reiterates BUY Rating for Helix Technology.NEW YORK--(BUSINESS WIRE)--July 23, 1997--Senior Analyst Steven Jaworski at BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital reiterates his investment rating on Helix Technology Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HELX) of a BUY recommendation. We are increasing our EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. estimates for 1997 and 1998 to $2.05 and $2.70 respectively, from $1.85 and $2.45 to reflect the improving trend in the semiconductor sector. In light of our increased estimates we are raising our 12 month price target to $60 to $65, from $50. -- Semiconductor equipment front-end order momentum remains positive evidenced by book-to-bill of 1.05. Applied Material (NASDAQ:AMAT AMAT Applied Materials (stock symbol) AMAT Average Memory Access Time AMAT Automatic Message Accounting Transmitter AMAT Anti-Materiel (bomb or mine) AMAT Ageing Management Assessment Team , 84-1/8), Helix's largest customer, expects to report $1.075 billion of new orders in its July quarter and $1.25 billion in the October period. Helix is well positioned to benefit from chip makers transition to 300 mm (12 inch) wafers and smaller linewidth geometries. -- Disc drive manufacturers continue to expand capacity to meet the forecasted CAGR CAGR See: Compound Annual Growth Rate of 16%-18% in unit drive sales. Global demand to be driven by implementation of desktop and mobile PCs (CAGR of 15%-17%), and client/server systems (20%-22%). -- We believe the $1.40 annual dividend will increase later in the year as cash balance rises above company's target range of $28 million to $30 million. BlueStone Capital Partners, L.P. is a full service investment banking and brokerage firm that delivers financial services to emerging growth and medium size companies worldwide. BlueStone Capital assists clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. CONTACT: BlueStone Capital Partners L.P., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Steven Jaworski, 212/850-0566 |
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