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Analyst roundup: Applied, PeopleSoft up

The news is good for now for Applied Materials, Network General, Tele-Tech, and Peoplesoft.

Applied jumps on ratings, earnings

Applied Materials (AMAT) got a pat on the back as UBS Securities upped its rating on the company to "buy" from "hold" following yesterday's earnings report, while Lehman Brothers reiterated its "buy" rating.

The company's stock took a 13 percent leap in trading, going as high as 51-1/4 from yesterday's close of 45 1/8.

Robertson, Stephens analyst Sue Billat raised her rating of Applied to "buy" from "long-term attractive," and upped her estimates for fiscal 1997 to $2.20 from $2.00 and fiscal 1998 to $3.25 from $3.00.

"Applied has worked diligently over the past several years to develop the leading edge in single-wafer/multichamber systems needed for...micron technologies," Billat said in a report.

She said that Applied is well positioned to continue to gain market share as 0.25 micron products move into full production.

Network General a "strong buy"

Network General (NETG) was upgraded by Cowen & Company analyst Chris Stix to a "strong buy" from a "buy." The stock was up just over four percent in trading, up as high as 26 from yesterday's close of 24-7/8.

The company is a leader in the protocol market and has a strong suite of new products coming out, Stix said. He explained that the company will not feel the pinch that other networking companies have experienced because they have found a niche. "Because of its business in protocol analyzers, we don't think it will see product cycle product swings. It is becoming more important to network managers, which leads to steady growth," he added.

Stix also said that the company's products for Frontier Software, called RMON, are doing particularly well. "All of [its] products are contributing to robust and continued growth, so we are more excited about the potential returns over the next 12 months," he added.

Tele-Tech gets upped

Tele-Tech (TTEC) was upgraded by Morgan Stanley to "strong buy" from "outperform." The company's stock was boosted almost eight percent in trading, going to 26 from yesterday's close of 24.

Morgan Stanley said revenues can grow at least 70 percent this year and 45 percent next year as the company's fundamentals have never been stronger and its pipeline of deals is accelerating.

Tele-Tech is a national contractor providing engineering and installation services to the telecommunications industry.

PeopleSoft gets a boost

PeopleSoft (PSFT) was upgraded by Salomon Brothers to "strong buy" from "buy."

The company's stock jumped almost 10 percent in trading today, climbing as high as 48-1/4 from yesterday's close of 43-7/8.