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.
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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.
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SOURCE BancBoston Robertson Stephens
CO: BancBoston Robertson Stephens; Aavid Thermal Technologies
IN: FIN CPR
04/23/99 10:59 EDT prnewswire.com