Barclays Maintains an 'Equalweight' on Veeco Instruments (VECO); Raising Numbers, But Not Forgetting Uncertainties
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Price: $52.40 -2.2%
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on Veeco Instruments Inc. (NASDAQ: VECO) price target raised from $28 to $34.
Analyst, Olga Levinzon, said, "Veeco delivered a strong beat and raise, which highlighted several of the company's strengths including: 1) diversified end market exposure which has muted the cyclical LED decline; 2) flexible business model which has enabled 10-15% operating margins at the trough; and 3) a growing service component, which is on track to account for ~23-28% of CY12 revenues. However, with the pace and magnitude of the LED tool demand recovery still uncertain..."
Barclays raises FY12 EPS estimate from $1.00 to $1.60 and FY13 from $1.30 to $1.60.
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 $30.19 yesterday.
Analyst, Olga Levinzon, said, "Veeco delivered a strong beat and raise, which highlighted several of the company's strengths including: 1) diversified end market exposure which has muted the cyclical LED decline; 2) flexible business model which has enabled 10-15% operating margins at the trough; and 3) a growing service component, which is on track to account for ~23-28% of CY12 revenues. However, with the pace and magnitude of the LED tool demand recovery still uncertain..."
Barclays raises FY12 EPS estimate from $1.00 to $1.60 and FY13 from $1.30 to $1.60.
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 $30.19 yesterday.
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