Barclays Lowers Estimates on Veeco Instruments (VECO); Sees Extended MOCVD Downturn
VECO Hot Sheet
Rating Summary:7 Buy, 11 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Barclays maintains an 'Equalweight' on Veeco Instruments (NASDAQ: VECO) price target of $25.00.
Analyst, Olga Levinzon, said, "We continue to see the bright spots in Veeco's business (near-term HDD strength, robust service growth, strong net cash position) being offset by expectations for an extended downturn in MOCVD demand. Thus, we expect the stock to be relatively range bound in the near to medium term..."
"We lower our CY12 estimates to $550M/$1.25 (Street $626M/$1.72) and CY13 estimates to $570M/$1.35 (Street $688M/$2.81)."
For an analyst ratings summary and ratings history on Veeco Instruments Inc. click here. For more ratings news on Veeco Instruments Inc. click here.
Shares of Veeco Instruments Inc. closed at $27.14 yesterday, with a 52 week range of $20.35-$57.67.
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Analyst, Olga Levinzon, said, "We continue to see the bright spots in Veeco's business (near-term HDD strength, robust service growth, strong net cash position) being offset by expectations for an extended downturn in MOCVD demand. Thus, we expect the stock to be relatively range bound in the near to medium term..."
"We lower our CY12 estimates to $550M/$1.25 (Street $626M/$1.72) and CY13 estimates to $570M/$1.35 (Street $688M/$2.81)."
For an analyst ratings summary and ratings history on Veeco Instruments Inc. click here. For more ratings news on Veeco Instruments Inc. click here.
Shares of Veeco Instruments Inc. closed at $27.14 yesterday, with a 52 week range of $20.35-$57.67.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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