Deutsche Bank Upgrades Aixtron (AIXG) to Buy
Deutsche Bank upgrades Aixtron (Nasdaq: AIXG) to Buy.
The firm commented, Aixtron shares are up ~145% ytd (Dax up 12% ytd), and while we called Q1 the order bottom, we drew the wrong conclusion and downgraded the stock’s rating too early. We now find good reason to upgrade again. (1) The LED TV opportunity could mean Aixtron sells more tools over the next few years than over last 25 years. (2) After Samsung we expect more silicon chip players to enter the LED space due to the significant l-t potential. (3) As the LED industry migrates to 6‘‘ wafers Aixtron should maintain its ~70% equipment market share.
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