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Technology Stocks : Aavid Thermal Technologies (AATT)

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To: W Shakespeare who wrote (183)4/23/1999 12:24:00 PM
From: W Shakespeare  Read Replies (1) of 185
BancBoston Robertson Stephens Upgrades AATT to a Buy Rating

SAN FRANCISCO, April 23 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271:

BancBoston Robertson Stephens managing director and senior semiconductor equipment analyst Sue Billat today upgraded Aavid Thermal Technologies (Nasdaq: AATT) to a Buy rating from a Long-Term Attractive.

"We are raising our rating on Aavid from Long-Term Attractive to Buy, following first quarter results that exceeded our expectations," said Billat. "We are raising our 1999 earnings per share estimate to $1.29 from $1.25.

"In our view, the computer and networking segment of Aavid Thermal Product's (ATP) business is transitioning to a more unit volume vs. ASP driven model, especially in the PC arena. We believe that this is being increasingly driven by the growth of the Internet and e-commerce vs. just growth in the stand-alone desktop market. This trend is broadening ATP's potential application to include not only thermal solutions for microprocessors but also for graphics, video, and network cards, and routers and switches. Further, it is quite likely, in our view, that the sub-$1,000 PC will have a higher thermal content than traditional desktops," said Billat.

Clients interested in receiving more information should contact their salesperson at 415-781-9700.

BancBoston Robertson Stephens is a leading international investment banking firm focused on growth companies. The firm's 55 equity and high yield research analysts cover more than 600 companies. Additional information is available upon request.

The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in "Investment Risks." BancBoston Robertson Stephens from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested.

SOURCE BancBoston Robertson Stephens

CO: BancBoston Robertson Stephens; Aavid Thermal Technologies

ST: California



04/23/99 10:59 EDT
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