Deutsche Bank Cuts Price Target on Aixtron (AIXG) to E11 on Reduced Outlook
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Price: $3.06 --0%
Rating Summary:
4 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
4 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Deutsche Bank is reaffirming its Hold rating on shares of Aixtron (NASDAQ: AIXG) and is setting its price target at E11.
The company slashed its FY2011 outlook and the firm believes that it was largely due to Sanan. They still like the stock for the long run, but notes that they would wait for a more attractive entry point to before buying.
The firm is cutting its EPS estimates for 2011 and 2012 from E1.63 and E1.47 to E1.18 and E0.84. For 2013, Deutsche reduced its estimate from E1.68 to E11.09.
An analyst at Deutsche comments, "A softness in ST conditions that might trigger consolidation amongst LED makers similar to what we saw in 2007/08 should not be confused with the sudden end to a LT secular story. Hence, the real question is how quickly the funding situation for the smaller LED makers in China improves and when consolidation happens so that demand can ultimately recover."
Shares of AIXG are trading down 14.91 percent or $2.89 to $16.49.
For more ratings news on Aixtron click here and for the rating history of Aixtron click here.
Shares of Aixtron closed at $19.38 yesterday.
The company slashed its FY2011 outlook and the firm believes that it was largely due to Sanan. They still like the stock for the long run, but notes that they would wait for a more attractive entry point to before buying.
The firm is cutting its EPS estimates for 2011 and 2012 from E1.63 and E1.47 to E1.18 and E0.84. For 2013, Deutsche reduced its estimate from E1.68 to E11.09.
An analyst at Deutsche comments, "A softness in ST conditions that might trigger consolidation amongst LED makers similar to what we saw in 2007/08 should not be confused with the sudden end to a LT secular story. Hence, the real question is how quickly the funding situation for the smaller LED makers in China improves and when consolidation happens so that demand can ultimately recover."
Shares of AIXG are trading down 14.91 percent or $2.89 to $16.49.
For more ratings news on Aixtron click here and for the rating history of Aixtron click here.
Shares of Aixtron closed at $19.38 yesterday.
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