Canaccord Genuity Maintains a 'Buy' on Ultratech (UTEK); Staying Positive, Don't See Direct Read Through From AMAT Results
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Price: $30.23 --0%
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Ultratech (NASDAQ: UTEK) price target of $39.00.
Analyst, Jonathan Dorsheimer, said, "We maintain our rating on UTEK shares in spite of a guide down by bellwether Applied Materials (Nasdaq: AMAT)...On the surface, a miss or any signs of weakness would look negative for most of the industry. However, digging deeper into the details and commentary do not raise concerns for Ultratech’s near-term business, in our opinion."
"We continue to believe that strong momentum in LSA for 28nm capacity builds as well as some growth in LED should allow Ultratech to outperform over this current cycle. New products and further penetration in logic and memory should create a much larger secular growth story through the next few cycles as well."
For an analyst ratings summary and ratings history on Ultratech click here. For more ratings news on Ultratech click here.
Shares of Ultratech closed at $32.97 yesterday.
Analyst, Jonathan Dorsheimer, said, "We maintain our rating on UTEK shares in spite of a guide down by bellwether Applied Materials (Nasdaq: AMAT)...On the surface, a miss or any signs of weakness would look negative for most of the industry. However, digging deeper into the details and commentary do not raise concerns for Ultratech’s near-term business, in our opinion."
"We continue to believe that strong momentum in LSA for 28nm capacity builds as well as some growth in LED should allow Ultratech to outperform over this current cycle. New products and further penetration in logic and memory should create a much larger secular growth story through the next few cycles as well."
For an analyst ratings summary and ratings history on Ultratech click here. For more ratings news on Ultratech click here.
Shares of Ultratech closed at $32.97 yesterday.
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