S&P Capital IQ Upgrades its Rating on Cymer from SELL to HOLD

October 25 00:00 2011

NEW YORK, October 25 (RainbowNewsLine.com) – Analyst Angelo Zino of S&P Capital IQ has upgraded his rating on Cymer (NASDAQ: CYMI) from SELL to HOLD, while reducing his estimates for the company. The target price is set to $44.

Analyst Angelo Zino, in a research note published yesterday, mentions that the company would continue to witness traction for flat panel display tools. Cymer has good growth prospects for lithography tools, as customers are expected to move towards more advanced technology nodes, the analyst says. The analyst, however, believes that Cymer’s R&D expenses would be at higher levels that would affect earnings through 2012. The EPS estimates for 2011 and 2012 have been reduced from $2.54 to $2.44 and from $2.02 to $1.69 respectively, following the release of Q3 results.