Goldman Sachs Upgrades Rubicon Technology (RBCN) to Neutral, Better Risk/Reward

Goldman Sachs upgraded Rubicon Technology (NASDAQ: RBCN) from Sell to Neutral with a price target of $9.00 (from $7.50) citing better risk/reward.

The firm said pricing for LED sapphire will remain relatively firm – albeit depressed – and is now at a fundamental bottom. In addition, the non-LED segments provide potential upside to top-line growth in the near-to-medium term.

Goldman raised 2012E-14E EPS by 5%/19%/29% to ($0.24)/$0.50/$0.60 owing largely to higher blended ASP and margin assumptions.

For an analyst ratings summary and ratings history on Rubicon Technology click here. For more ratings news on Rubicon Technology click here.

Shares of Rubicon Technology closed at $10.31 yesterday.

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