Dain Rauscher Wessels Announces Investment Opinion On Applied Materials, KLA-Tencor Corp., Lam Research Corp., Newport Corp., Novellus Systems Inc. and Veeco Instruments.Business Editors & Analysts NOTE TO EDITORS: The following is an investment opinion issued by Dain Rauscher Wessels. MINNEAPOLIS--(BUSINESS WIRE)--Aug. 21, 2001 Dain Rauscher Wessels Expands Semiconductor Manufacturing Technologies Coverage; Initiates Ratings On Six Companies Dain Rauscher Wessels equity analyst Harold J. Mellen, III today introduced coverage of the following six companies: -- Newport Corp. (Nasdaq:NEWP), $18.37, with a Buy-Speculative Risk rating and a 12-month price target of $25. -- Veeco Instruments (Nasdaq:VECO), $35.05, with a Buy-Speculative Risk rating and a 12-month price target of $42. -- Applied Materials (Nasdaq:AMAT), $43.24, with a Neutral rating. -- KLA-Tencor Corp. (Nasdaq:KLAC), $48.71, with a Neutral rating. -- Lam Research Corp. (Nasdaq:LRCX), $27.38, with a Neutral rating. -- Novellus Systems Inc. (Nasdaq:NVLS), $46.18, with a Neutral rating. "Institutional investors may want to consider limiting their exposure to this sector until either the fundamentals improve and justify current valuations, or the valuations contract to historic trough levels In medicine, a trough level is the lowest level that a medicine is present in the body. In a medicine that is administered periodically, the trough level should be measured just before the administration of the next dose in order to avoid overdosing. and justify investment," said Mellen. "The long-term viability of this sector is not in question, quite the opposite, but valuations should reflect the current state of the business and be inextricably in·ex·tri·ca·ble adj. 1. a. So intricate or entangled as to make escape impossible: an inextricable maze; an inextricable web of deceit. b. linked to fundamentals." Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving a research report should call (612) 371-2239. Dain Rauscher Wessels, a division of Dain Rauscher Incorporated, includes equity research, equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as , institutional equity sales and corporate finance. The division's 45 analysts focus on five industries: consumer, energy, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , health care and technology. Currently, the analysts follow nearly 500 companies. The division, which employs 450 people, has offices in Atlanta; Austin, Texas; Boston; Chicago; Dallas; Houston; Memphis, Tenn.; Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.; Minneapolis; New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; Paris; San Francisco; and Tel Aviv, Israel(a). Dain Rauscher Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. (NYSE NYSE See: New York Stock Exchange : RY), is one of the nation's largest full-service securities firms with 1,130 investment executives and 4,150 employees. The company's broker-dealer, Dain Rauscher Incorporated, serves individual investors and small business owners through offices located predominantly in the western half of the United States, and capital markets and correspondent clients in select U.S. and international markets. Founded in 1909, Dain Rauscher Incorporated is a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and other major securities exchanges, as well as the Securities Investor Protection Corp. The company's headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St., in Minneapolis. Dain Rauscher Incorporated makes a market in Applied Materials, KLA-Tencor Corp., Lam Research Corp., Newport Corp., Novellus Systems Inc. and Veeco Instruments and may act as principal with regard to sales or purchases of this security. Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI See Digital Research. , its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. (a)Strategic alliance with Tamir Fishman & Co. |
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