Needham says Novellus Systems' (NVLS +4.1%) move to lift its Q4 bookings guidance to the high...

|About: Novellus Systems, Inc. (NVLS-OLD)|By:, SA News Editor

Needham says Novellus Systems' (NVLS +4.1%) move to lift its Q4 bookings guidance to the high end of prior expectations and optimism on order strength confirms its view that the semiconductor equipment space "is in an early stage of a cyclical rebound." The firm boosts its NVLS price target to $40 from $37 and raises its 2012 EPS view.