As Novellus (NVLS -2%) slips after a mixed mid-quarter update, Barclays reiterates an...

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

As Novellus (NVLS -2%) slips after a mixed mid-quarter update, Barclays reiterates an Equalweight. The firm believes Q3 will represent a "cyclical trough" for the troubled chip equipment space, but thinks the timing of a recovery is up in the air. Barclays is more positive on chip equipment peer Teradyne (TER), due to its low valuation.