UBS AG Reiterates Buy on GT Advanced Technologies (GTAT)

By admin | 6 years ago

GT Advanced Technologies (NASDAQ: GTAT)‘s stock had its “buy” rating reaffirmed by UBS AG (NYSE: UBS) in a research note issued on Friday.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of GT Advanced Technologies in a research note to investors on Friday. They now have a $5.00 price target on the stock, down previously from $9.00. Separately, analysts at Stifel Nicolaus cut their price target on shares of GT Advanced Technologies from $14.00 to $10.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Stifel also removed GTAT from its Select List, citing that Solar and LED transitions will dampen 2012 earnings. They also noted that the company continues to have an attractive valuation. Finally, analysts at Ardour Capital downgraded shares of GT Advanced Technologies from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $5.00 price target on the stock, down previously from $16.00.

GT Advanced Technologies opened at 4.28 on Friday. GT Advanced Technologies has a 52-week low of $6.40 and a 52-week high of $17.50. The company has a market cap of $506.5 million and a price-to-earnings ratio of 2.95.

GT Advanced Technologies last posted its quarterly earnings results on Wednesday, May 16th. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.71 by $0.06. The company’s quarterly revenue was up 30.3% on a year-over-year basis. Analysts expect that GT Advanced Technologies will post $0.37 EPS next quarter.

GT Advanced Technologies Inc., formerly GT Solar International, Inc., through its subsidiaries, is a global provider of polysilicon production technology and multicrystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry, and sapphire growth systems and material for the light emitting diode (LED) and other specialty markets.

About the author