UBS Maintains a 'Buy' on GT Advanced Tech (GTAT); Undisputed: Executing Better than Competitors

UBS maintains a 'Buy' on GT Advanced Tech (NASDAQ: GTAT) price target of $8.00 (from $6.00).

Analyst, Stephen Chin, said, "Our analysis found that all 3 solar furnace makers in China saw big sales declines in 1H12, with Jinggong down -85% versus 2H11, JYT down -90%, Jingsheng down -86% and Tianlong reported no sales in 1H12. We believe GT gained modest share against its Chinese competitors as its solar furnace sales in 1H12 declined -72% and estimate GT still has 50%+ share of all installed solar furnaces in China."

Other highlighted points include: 1) Low visibility on solar furnaces sales/orders into 2013 not a big surprise; and 2) GT’s position in LED furnaces remains strong against China competitors. Checks indicate GTAT remains the LED sapphire eqiuipment leader with estimated sales of $410 million in 2012.

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 $6.55 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Sansera Engineering Ltd (SANSERA:IN) PT Raised to INR4,250 at ICICI Securities
• LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities