Canaccord Genuity Maintains a 'Sell' on Veeco Instruments (VECO); Outperformance in a Weak Sector
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Price: $39.73 +5.02%
Rating Summary:
8 Buy, 13 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
8 Buy, 13 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade VECO Now!
Canaccord Genuity maintains a 'Sell' on Veeco Instruments Inc. (NASDAQ: VECO) price target raised to $27.00.
Analyst, Jonathan Dorsheimer, said, "While Veeco is clearly outperforming in a difficult time, we maintain our SELL on concerns that LCD sell-through won’t materialize and result in lower H2 utilization at potential customers...Veeco reported basically in-line with expectations, and we did not see anything surprising in the report. MOCVD orders remain depressed and sales are slumping, ex the strength in data storage, which we view as basically a one-time item."
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 $33.74 yesterday, with a 52 week range of $20.35-$41.63.
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Analyst, Jonathan Dorsheimer, said, "While Veeco is clearly outperforming in a difficult time, we maintain our SELL on concerns that LCD sell-through won’t materialize and result in lower H2 utilization at potential customers...Veeco reported basically in-line with expectations, and we did not see anything surprising in the report. MOCVD orders remain depressed and sales are slumping, ex the strength in data storage, which we view as basically a one-time item."
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 $33.74 yesterday, with a 52 week range of $20.35-$41.63.
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