KLA-Tencor Corporation (KLAC) Message Board

To: SemiBull who wrote (1759)	1/21/2005 1:31:34 PM
From: Proud_Infidel	Read Replies (1) of 1778

KLA-Tencor Shares Seen Pressured In 2nd Half 01.21.05, 11:50 AM ET Banc of America Securities said KLA-Tencor (nasdaq: KLAC - news - people ) is "operating close to peak performance, never a time to add to a semi-equipment stock position." Banc of America said, "We suspect that the stock is stalled in the mid-$40s until the memory business rolls over. We think memory fundamentals will break in the second half of 2005 causing the stock to come under pressure. In the meantime we think the stock is in 'no man's land.'" The research firm, which rates KLA-Tencor at "sell," noted that the company's order mix is still heavily weighted to memory, 52% in the last quarter. Elsewhere in its semi-equipment coverage, Banc of America's top pick is Taiwan Semiconductor Manufacturing (nyse: TSM - news - people ), rated at "buy" with a target price of $9.35. Its least favorite is Veeco Instruments (nasdaq: VECO - news - people ), rated at "sell" with a target price of $16.