UBS Maintains a 'Buy' on Photronics (PLAB); Continues To Execute at High-End

UBS maintains a 'Buy' on Photronics (NASDAQ: PLAB), PT increased by $1 to $11.50.

UBS analyst says, "Beats Apr-11 results on strong high-end IC sales and Japan orders...Likely gains 2% market share (mostly in high-end) in IC to 13% in 2011...We believe Photronics can capture another 1-2% market share in 2012 from its momentum in high-end and its diversification beyond memory customers. We raise our FY11 and FY12 EPS estimates to $0.85 and $1.05 from $0.70 and $.0.80 previously."

For more ratings news on Photronics click here and for the rating history of Photronics click here.

Shares of Photronics closed at $9.25 yesterday.

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