Canaccord Genuity Upgrades Coverage on Rubicon Technology (NASDAQ:RBCN) - Video Summary on www.investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, March 26, 2013 - Canaccord Genuity has upgraded
coverage on Rubicon Technology (NASDAQ:RBCN). Analyst Jonathan Dorsheimer gives
the company a new buy rating with a $10 price target, double the previous target
of $5.00, and a 68% premium to the $5.95 price at the time the report was
issued. The new target is based on an expectation of slightly higher revenues
and a modest uptick in profitability for 2014.
InvestmentPitch.com has produced a "video news alert" which provides a brief
overview of Rubicon Technology based on the research report. If this link is
not enabled, please visit www.InvestmentPitch.com and enter "Rubicon" in the
search box.
Based outside of Chicago, Illinois, Rubicon is a materials company specializing
in growing monocrystalline sapphire products mainly for the LED and radio
frequency integrated circuit (RFIC) markets. The company applies its proprietary
crystal growth technology to produce very high-quality sapphire in a form that
allows for volume production of various sizes and orientation of substrates and
windows.
Sapphire ingot is typically used as raw material for further fabrication. The
company is the world leader in larger diameter sapphire products to support
next-generation applications, supplying 2 inch, 3 inch, 4 inch and 6 inch
sapphire cores and wafers as well as sapphire optical products for the aerospace
and defense market.
Canaccord stated, "We believe that Rubicon can be among the lowest-cost
providers when its factory is properly utilized, positioning the firm well for
the eventual rebound."
Canaccord cautions that Rubicon is subject to several investment risks such as
an industry-wide transition to another substrate material or the potential for
wafer reuse, which would decrease demand for new substrates.
Canaccord concluded, "We believe shares are washed out and that overall
sentiment in the LED space will take the stock higher over the coming year."
Rubicon currently trades at $6.25, and with 22.5 million shares outstanding, is
capitalized at $141 million.
For more information please visit the company's website www.rubicon-es2.com, or
call Dee Johnson, Vice President of Investor Relations at 847-457-3426 or by
email at investor(at)rubicon-es2.com.
For more information about Canaccord Genuity or to obtain a copy of their
research report, contact your nearest Canaccord Genuity office. Their branches
are listed on their website at www.canaccord.com.
About InvestmentPitch
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multiple platforms to investors and financial professionals, specializes in
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research reports.
CONTACT:
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bmorgan(at)investmentpitch.com
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Unternehmensinformation / Kurzprofil:
Datum: 26.03.2013 - 16:53 Uhr
Sprache: Deutsch
News-ID 243301
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