Stifel Nicolaus Downgrades Veeco (VECO) to Hold
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Stifel Nicolaus downgrades Veeco Instruments (Nasdaq: VECO) from Buy to Hold, also dropping its $25 price target.
The downgrade follows solid Q3 results and news of a 5 million share offering last night. Despite the equity offering, and now the downgrade, Veeco's strong results are outweighing the negatives and traders are buying the stock today. Shares of Veeco most recently traded at $25.69, up 2.5% from yesterday's close.
Click here to see all the analyst action on shares of Veeco.
Veeco Instruments Inc. and its subsidiaries design and manufacture solutions for customers in the high brightness light emitting diode (HB-LED), solar, data storage, semiconductor, scientific research, and industrial markets worldwide.
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