Bear Stearns Upgrades Komag Shares to Outperform

Cites the disk drive maker's fourth quarter results

Bear Stearns upgraded Komag (KOMG ) to outperform, citing the disk drive maker's fourth quarter results.

Komag recently posted $1.07 vs 51 cents fourth quarter earnings per share (EPS.)

Analyst Andrew Neff said the stronger-than-expected results derive from robust demand, capacity expansion, favorable product mix trends, and potential growth from new applications, among other things. He ups his 90 cents first quarter EPS estimate to $1.07 on revenue of $200.4 million and his $3.55 2006 EPS estimate to $4.52 (including stock options expense) on 29% higher revenue of $885 million. He also ups his $3.60 2007 EPS estimate to $5.00 on 15% higher revenue of $1.02 billion. He has a year-end target of $61.

All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report.
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