Markets & Finance

Banc of America Ups Xilinx to 'Buy'

Banc of America upgraded Xilinx (XLNX) to buy, from neutral.

Analyst Sumit Dhanda says the company is the prime beneficiary of an improving environment for enterprise and carrier spending. He says Xilinx is the best-positioned company in his Analog/programmable logic devices universe to capitalize on a recovery.

Dhanda says Xilinx could potentially continue to raise its earnings estimates as demand trends within the communications market continue to improve. He says the 20 cents third-quarter pro forma earnings per share, and the 16% sequential sales growth beat his 18 cents and 8% estimates, respectively.

Dhanda thinks the 7% to 10% fourth-quarter sequential sales guidance is solid. He upped the 69 cents fiscal 2004 (Mar.) earnings per share estimate to 74 cents, and raised the $1.04 fiscal 2005 estimate to $1.26. He also raised the $28 price target to $50.

Cash Is for Losers

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus