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Fly News Breaks for December 11, 2019
MKSI, LRCX
Dec 11, 2019 | 06:26 EDT
Citi analyst Atif Malik remain long Semiconductor Capital Equipment stocks into 2020. The analyst says a cycle recovery is half way through his expected peak in 2021 based on year-over-year monthly equipment billings projected through the year-end. Further, his wafer fabrication equipment model for 2020 and 2021 remains above consensus. Despite a strong run this year, the group's valuation on 2021 peak earnings power looks attractive, Malik tells investors in a research note. His top large cap and SMID buy-rated equipment picks are Lam Research (LRCX) and MKS Instruments (MKSI).
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