Canaccord Genuity maintains a 'Sell' on Veeco Instruments (VECO); Not Ready To Call The Bottom Yet
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Price: $38.43 +1.59%
Rating Summary:
8 Buy, 13 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
Rating Summary:
8 Buy, 13 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
Trade VECO Now!
Canaccord Genuity maintains a 'Sell' on Veeco Instruments Inc. (NASDAQ: VECO) price target of $18.00.
Analyst, Jonathan Dorsheimer, said, "We maintain our rating on VECO shares despite the better than expected Q1 results. While we are increasing our 2012 estimates, TV sell-through will determine H2/12 CAPEX plans and to a large extent 2013...Veeco beat on all metrics and the balance sheet is clean, but we believe it is too soon to call the bottom, as double ordering at chip level and inventory builds have created the current utilization rates. The key will be TV sellthrough."
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 $30.19 yesterday, with a 52 week range of $20.35-$57.67.
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Analyst, Jonathan Dorsheimer, said, "We maintain our rating on VECO shares despite the better than expected Q1 results. While we are increasing our 2012 estimates, TV sell-through will determine H2/12 CAPEX plans and to a large extent 2013...Veeco beat on all metrics and the balance sheet is clean, but we believe it is too soon to call the bottom, as double ordering at chip level and inventory builds have created the current utilization rates. The key will be TV sellthrough."
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 $30.19 yesterday, with a 52 week range of $20.35-$57.67.
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