DA Davidson Upgrades Ultratech (UTEK) to Buy; Too Good to Ignore!
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Price: $30.23 --0%
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
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DA Davidson upgraded Ultratech (NASDAQ: UTEK) to Buy, raises PT from $33 to $35.
DA analyst says, "We believe Ultratech’s new product offerings and balanced
exposure to both front-end and back-end customers should enable it to continue to outperform the market over the next few years. Demand for the LSA tool continues to accelerate as customers ramp 28nm and below manufacturing lines, and trends towards advanced packaging technologies continue to drive record demand for the company’s AP lithography tools. Additionally, demand for the company’s yield enhancing HBLED steppers continues to outpace supply, and the company is responding quickly to add necessary manufacturing capacity. Despite all of these positive growth drivers, shares are currently trading at less than 9x our FY’12 earnings estimate of $2.05 less net cash."
For more ratings news on Ultratech click here and for the rating history of Ultratech click here.
Shares of Ultratech closed at $26.32 yesterday.
DA analyst says, "We believe Ultratech’s new product offerings and balanced
exposure to both front-end and back-end customers should enable it to continue to outperform the market over the next few years. Demand for the LSA tool continues to accelerate as customers ramp 28nm and below manufacturing lines, and trends towards advanced packaging technologies continue to drive record demand for the company’s AP lithography tools. Additionally, demand for the company’s yield enhancing HBLED steppers continues to outpace supply, and the company is responding quickly to add necessary manufacturing capacity. Despite all of these positive growth drivers, shares are currently trading at less than 9x our FY’12 earnings estimate of $2.05 less net cash."
For more ratings news on Ultratech click here and for the rating history of Ultratech click here.
Shares of Ultratech closed at $26.32 yesterday.
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