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Roth Capital is reiterating a Buy rating on Genesis Microchip (GNSS) and raising tgt to $29 from $27. Firm believes LCD TV market is stronger than originally expected; notes over the past month, several data points indicate surging demand for LCD TVs. With indications of adequate capacities at TSMC (TSM), firm believe GNSS is poised to report record revenues once again in Q2:06. Firm is raising Q2, Y06 and Y07 estimates. Roth is projecting 2Q06 revenues of $70.41 million and EPS of $0.21, up from $68.45 million and $0.19 respectively. For FY:06, expects revenues to grow to $278.96 and EPS of $0.75, up from $276.7 million and $0.73 respectively. FY:07 revenues become $355.96 million and EPS of $1.00 from $346.49 million and $0.94 respectively.
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