Needham & Company Reiterates a 'Buy' on Mattson Technology (MTSN); With Profitability In Sight, the Stock Looks Undervalued

Needham & Company reiterates a 'Buy' on Mattson Technology (NASDAQ: MTSN) price target raised from $3.00 to $3.50.

Analyst, Y. Edwin Mok, said, "Mattson reported strong 4Q11 results that surpassed guidance range, and provided higher 1Q12 outlook. Based on new customer penetration of its RTP and etch products in multiple foundries, we believe MTSN is well positioned to see continued growth in the next few quarters. Additionally, the company is finally serious about reducing costs. We believe several phases of cost cutting measures, coupled with top-line growth, will allow MTSN deliver profitability within this year."

For an analyst ratings summary and ratings history on Mattson Technology click here. For more ratings news on Mattson Technology click here.

Shares of Mattson Technology closed at $2.39 yesterday.

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