Markets & Finance

SoundView Ups ATI Technologies to 'Outperform'

SoundView upgraded ATI Technologies (ATYT) to outperform from neutral.

Analyst Hans Mosesmann says strength in laptops, from which ATI generates about a third of its revenue, should continue to benefit the company. He notes a strong gross margin outlook and diversification into consumer markets. Mosesmann says strong product diversification from the top to bottom, including an integrated graphics processor ramp, should provide further top-line momentum over the next few quarters.

Mosesmann says the potential to expand its position in gaming consoles markets is a long-term plus. He raised the 17 cents 2003 earnings per share estimate to 22 cents, and upped the 36 cents 2004 estimate to 45 cents. He also raised the $7 target to $12.

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