Reports of China LED Policy Shift Just 'Market Noise' (CREE) (VECO) (AIXG)

This morning reports in the China Times said the Shenzhen government has "ended a seven-year incentive plan for the city's much-hyped LED lighting sector."

Consider movement in related stocks Cree, Inc. (Nasdaq: CREE), which moved higher, Aixtron SE (Nasdaq: AIXG) and Veeco Instruments Inc. (Nasdaq: VECO), both lower, the news may have captured attention on Wall Street.

In the view of Canaccord Genuity analyst Jonathan Dorsheimer, the report is a "non-event" and "market noise" and does not represent a shift in China's policy or change views.

Canaccord Genuity has a Buy rating on Veeco Instruments Inc. with a price target of $48.00

For an analyst ratings summary and ratings history on Veeco Instruments Inc. (NASDAQ: VECO) click here. For more ratings news on Veeco Instruments Inc. click here.

Shares of Veeco Instruments Inc. closed at $36.90 yesterday.

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