Canaccord Genuity Maintains a 'Hold' on Rubicon Technology (RBCN); Negative Q4 Preannouncement May Be Signal of Bottoming

Canaccord Genuity maintains a 'Hold' on Rubicon Technology (NASDAQ: RBCN) price target of $9.00.

Analsyt, Jonathan Dorsheimer, said, "We maintain our rating on RBCN shares with no change in our investment thesis following the company’s announcement of a new 6” supply agreement and negative December preannouncement...Our 2012 estimates are unchanged as we have already accounted for a return to market pricing for Rubicon’s 6” substrates in 2012."

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

Shares of Rubicon Technology closed at $12.58 yesterday, with a 52 week range of $8.23-$29.79.

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