Veeco (VECO) shares appear to be getting a boost today from positive comments on the provider of LED manufacturing equipment this morning by Lazard Capital analyst Daniel Amir.
In a research note, Amir writes that recent checks from China “suggest that tool orders continue to accelerate.” He adds that “not a month goes by without new players popping up in China that order LED tools.” He says the situation at some point could overheat in terms tool orders, but that for the near-term, the strong demand is good news for Veeco, which he says has about 60% of the market for LED manufacturing tools in China.
Amir maintains a Buy rating on the shares.
VECO is up $2.02, or 6%, to $35.73.
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