Analysts Say Ultratech (UTEK) Set to Outperform Peers

October 19, 2012 12:51 PM EDT Send to a Friend
Get Alerts UTEK Hot Sheet
Price: $19.06 -0.21%

Rating Summary:
    6 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 14 | New: 51
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Canaccord Genuity maintained a Buy rating on Ultratech (NASDAQ: UTEK) and trimmed its price target to $38.00 (from $39.00).

Analyst Jonathan Dorsheimer said "Ultratech is exposed to several secular growth trends in its end markets, including smartphones and SSL. These applications, combined with penetration into new markets such as NAND and DRAM memory, should allow UTEK to outperform its peers and see increased leverage in the next cycle – likely 2014."

He also said he thinks the company's 2013 guidance of flat to up 5 percent higher year-over-year reflects a "high level of conservatism".

For an analyst ratings summary and ratings history on Ultratech click here. For more ratings news on Ultratech click here.

Shares of Ultratech closed at $29.92 yesterday.


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