UBS Maintains a 'Buy' on GT Advanced Tech (GTAT); Review After Competitor's Reported Results

UBS maintains a 'Buy' on GT Advanced Tech (NASDAQ: GTAT) price target lowered by $1 to $10.

Analyst, Stephen Chin, said, "GT's China based solar furnace competitors reported final 2011 results and our analysis shows GT’s market share in 2011 declined as expected as its 2 China based competitors (Jinggong and JYT) ramped production for first time. Our analysis shows GT’s multi solar furnace market share in 2011 based on units shipped was 40% (was 70% in 2010), Jinggong’s share was 36% (8% in 2010) and JYT’s was 20% (13% in 2010)...Solar furnace margins appear stable but solar sales visibility remains low...GT’s position in LED furnaces remains strong."

For an analyst ratings summary and ratings history on GT Advanced Tech click here. For more ratings news on GT Advanced Tech click here.

Shares of GT Advanced Tech closed at $7.50 yesterday.

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