Barclays Lowers Estimates on Veeco Instruments (VECO); Sees Extended MOCVD Downturn
Tweet
Share
E-mailGet Alerts VECO Hot Sheet
Price: $47.20 -0.46%
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Join SI Premium – FREE
Barclays maintains an 'Equalweight' on Veeco Instruments (NASDAQ: VECO) price target of $25.00.
Analyst, Olga Levinzon, said, "We continue to see the bright spots in Veeco's business (near-term HDD strength, robust service growth, strong net cash position) being offset by expectations for an extended downturn in MOCVD demand. Thus, we expect the stock to be relatively range bound in the near to medium term..."
"We lower our CY12 estimates to $550M/$1.25 (Street $626M/$1.72) and CY13 estimates to $570M/$1.35 (Street $688M/$2.81)."
For an analyst ratings summary and ratings history on Veeco Instruments Inc. click here. For more ratings news on Veeco Instruments Inc. click here.
Shares of Veeco Instruments Inc. closed at $27.14 yesterday.
Analyst, Olga Levinzon, said, "We continue to see the bright spots in Veeco's business (near-term HDD strength, robust service growth, strong net cash position) being offset by expectations for an extended downturn in MOCVD demand. Thus, we expect the stock to be relatively range bound in the near to medium term..."
"We lower our CY12 estimates to $550M/$1.25 (Street $626M/$1.72) and CY13 estimates to $570M/$1.35 (Street $688M/$2.81)."
For an analyst ratings summary and ratings history on Veeco Instruments Inc. click here. For more ratings news on Veeco Instruments Inc. click here.
Shares of Veeco Instruments Inc. closed at $27.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hims and Hers (HIMS) PT Lowered to $35 at Barclays
- Raymond James Starts Southern California Bancorp (BCAL) at Outperform
- Okta, Inc (OKTA) PT Raised to $170 at Cantor Fitzgerald Ahead of Q2 Results
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ChangeRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
