Credit Suisse Downgrades Rudolph Technologies (RTEC) to Neutral

Credit Suisse downgraded Rudolph Technologies (NYSE: RTEC) from Outperform to Neutral with a price target of $24.00 (from $19.00).

Analyst Farhan Ahmad comments ": For last several years there has been a pattern of weaker growth or revenue decline in back end revenues during the odd numbered years - this introduces risk for Back end in 2017. TSMC has also indicated that they would be spending significantly less on InFo capacity this year. The company has also diversified away from Front end equipment spending and will benefit less than Front End Semicap companies from the strength in front end CapEx."

Ahmad offers hope noting that any pullback would yield a positive outlook for RTEC valuation: "We continue to view RTEC as one of the best ways to play the secular growth in advanced packaging, and would be more positive in case of pull back."

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

Shares of Rudolph Technologies closed at $23.15 Friday.

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