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Stock Market & Financial Investment News

News Breaks
December 18, 2012
11:14 EDTGTATGT Advanced downgraded to Hold from Buy at Stifel Nicolaus
News For GTAT From The Last 14 Days
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April 7, 2014
08:16 EDTGTATGT Advanced announces $58.6M specialty furnace orders
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April 2, 2014
12:48 EDTGTATGT Advanced rallies after Goldman raises price target
Shares of GT Advanced Technologies (GTAT) - which makes sapphire products and solar energy equipment - are climbing after Goldman Sachs raised its price target on the stock in a note to investors earlier today. WHAT'S NEW: Goldman Sachs analyst Brian Lee raised his 2015 and 2016 earnings per share estimates for GT Advanced, as he is more upbeat about the outlook for the company's equipment business. GT Advanced's deal to supply sapphire for upcoming Apple (AAPL) devices is worth $15 per share for GT if the deal goes as expected, and up to $25 if the deal exceeds expectations, contended Lee. The analyst raised his price target on the stock to $24 from $20 and kept a Buy rating on the shares. OTHERS TO WATCH: Rubicon Technology (RBCN) also makes sapphire. That stock was upgraded to Overweight from Neutral in a note to investors from JPMorgan yesterday. JPMorgan expected Rubicon to benefit from a pick-up in demand for LEDs and sapphire covers. The stock surged yesterday in the wake of the upgrade. PRICE ACTION: In early afternoon trading, GT Advanced climbed $1.13, or 6.5%, to $18.51, while Rubicon fell 2.8% to $12.62.
08:57 EDTGTATGT Advanced price target raised to $24 from $20 at Goldman
Goldman believes GT Advanced's Apple opportunity continues to build momentum but believes core equipment is underappreciated and is incrementally more positive on its ability to monetize new equipment technology. Shares are Buy rated with a $24 price target raised from $20.

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