Avian Calls Bottom in LED Sector, Upgrades VECO, AIXG to Neutral, RBCN to Positive
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Get Alerts VECO Hot Sheet
Price: $47.86 +1.40%
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Several stocks in the LED sector made strong moves higher midday Wednesday following some promising comments from Avian Securities' Andrew Abrams. The analyst upgraded shares of Veeco Instruments (Nasdaq: VECO) and Aixtron (Nasdaq: AIXG) from Negative to Neutral and shares of Rubicon Technologies (Nasdaq: RBCN) from Neutral to Positive.
The analyst stuck his neck with the upgrades, saying he is calling the bottom in the LED industry. Abrams said his call is based on a review of prior cycle timelines within the market and a consideration of dialogues around the supply chain. Abrams recommending focusing on early- to mid-cycle names. He called Cree (Nasdaq: CREE) and Rubicon his two favorite longs.
Shares of Rubicon have surged more than 15 percent Wednesday; shares of Aixtron are up 1.7 percent and shares of Veeco are up just 0.2 percent.
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The analyst stuck his neck with the upgrades, saying he is calling the bottom in the LED industry. Abrams said his call is based on a review of prior cycle timelines within the market and a consideration of dialogues around the supply chain. Abrams recommending focusing on early- to mid-cycle names. He called Cree (Nasdaq: CREE) and Rubicon his two favorite longs.
Shares of Rubicon have surged more than 15 percent Wednesday; shares of Aixtron are up 1.7 percent and shares of Veeco are up just 0.2 percent.
Check out our Ratings Insider portal to get the most comprehensive and up-to-date analyst coverage on the Street.
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