Needham & Company Upgrades Mattson Technology (MTSN) to Buy; Eyeing Profitability

Needham & Company upgraded Mattson Technology (NASDAQ: MTSN) to Buy with a price target of $3.00.

Needham analyst says, "We believe the Helio XP RTP tool and the etch products are finally reaching adoption, and expect the company to ship both products to multiple customers. Additionally, we believe the benefits of cost cutting efforts will materialize in 2012, enabling MTSN to deliver profitability as early as 2Q12. With outsized exposure to the leading capex spenders coupled with new product ramp, we believe MTSN could significantly outperform the industry in the coming year. While the stock has run up in the last few weeks, we see additional upside as new wins translate to revenue trajectory, and profitability becomes visible on the P&L. Therefore, we recommend investors buy MTSN at this price."

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

Shares of Mattson Technology closed at $1.81 yesterday.

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