Canaccord Genuity Maintains a 'Hold' on Rubicon Technology (RBCN); Clearing the Decks...Too Soon to Become Constructive

Canaccord Genuity maintains a 'Hold' on Rubicon Technology (NASDAQ: RBCN) price target raised $1 to $10.

Analyst, Johnathan Dorsheimer, said, "We maintain our rating on RBCN shares despite a difficult Q4 and a very weak Q1 outlook...While things look fairly bleak right now, we point out that the sapphire industry is actually showing signs of stabilizing. While we do not expect much in the way of price increases again, we note that Rubicon is one of the low-cost providers in the industry. With this in mind, we feel that when the industry turns and inventory is worked down the increasing utilization should return a good amount of leverage and income to the model."

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

Shares of Rubicon Technology closed at $12.17 yesterday.

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