Oscar Gruss Upgrades Orbotech (ORBK) to Buy
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Oscar Gruss upgrades Orbotech (NASDAQ: ORBK) from Hold to Buy with a $16 price target.
The firm said, "We believe that acquiring Photon Dynamics (NASDAQ: PHTN) is a step in the right direction for ORBK, catalyzing its evolution into an undisputed FPD yield management market leader. We believe that this transaction holds the potential to double the average deal size in the FPD space and embeds significant operational leverage. Moreover, we are encouraged by the broadening diversification and improved visibility in the company's business as FPD gains the premiership in the company’s sales mix over the PCB segment."
Orbotech designs, develops, manufactures, and markets solutions for specialized applications in the supply chain of the electronics industry worldwide.
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