Tech Industry

Xylan picked up; Veeco boosted

Analysts like the looks of Xyland and Veeco and move to "buy" on CFM Technologies.

Xylan gets good mark
(XYLN) has been picked up by Robertson, Stephens & Company analyst Paul Johnson with a "long-term attractive" rating.

The company's stock was trading up almost 5 percent from yesterday's close of 20-1/2.

"There is a lot of opportunity for upside surprise in revenues and earnings as the market for advanced switching systems experiences rapid unit growth over the next few years," said Johnson in a statement.

He said that Xylan is riding the demand wave for network switching with one of the most advanced product portfolios in the industry. The company will introduce six products over the next several months which will redefine its product offering and competitive market position, he said.

Johnson's earning per share estimates for fiscal year 1997 and 1998, are 68 cents and $1.12, respectively.

Veeco's estimate raised
Microelectronic component maker Veeco Instruments (VECO) received an earning per share estimate increase from Stamford, Connecticut-based SoundView Financial.

The company's stock dipped more than 3.5 percent, down from yesterday's close of 28-1/2.

The firm raised its 1997 expectation to $1.50 a share, from $1.48 a share, and 1998 estimates to $1.85 a share, from $1.75 a share. The firm established a 12-month price target of $37 a share.

CFM gets a "buy"
Wet processing equipment maker CFM Technologies (CFMT) was picked up by UBS Securities with a "buy" rating and a 6-12 month price target of $45 a share.

The company's stock perked up 2-1/4 points, from yesterday's close of 36-3/4.