Markets & Finance

Prudential Ups Linear Tech, Maxim to 'Buy'


Prudential upgraded Linear Technology (LLTC

) and Maxim Integrated (MXIM

) to buy from hold.

Analyst Tristan Gerra says June booking concerns are overblown. He says his checks indicate June bookings held rather than fell off a cliff. He notes high-end analog demand remains steady. Gerra expects first quarter fiscal 2003 (June) low-to-mid single digit top-line growth for both companies.

For Linear, Gerra sees $0.62 fiscal 2002 earnings per share and $0.83 for fiscal 2003. For Maxim, he sees $0.75 fiscal 2002 EPS and $1.08 for fiscal 2003. For Linear, Gerra cut the $45 target to $41; he keeps his $52 target for Maxim.


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