Canaccord Genuity Aggressively Upgrades LED Stocks for Huge Upside
Canaccord Genuity raised LED stocks in part of valuation and in part on the growth prospects ahead. We already have seen some serious bounces from the leader here, but the calls are not just optimistic. They now are at the top end of Wall St.’s analysts.
Veeco Instruments Inc. (NASDAQ: VECO) is surging this morning, with gains of close to 6% to $37.00, as Canaccord raised its rating to Buy. That was all the way up from Sell. The price target moved up to $48 from $25, making it at the street high now. The LED leader is increasingly coming back into favor. Just be advised that this already has recovered off the lows, as the price compares to a 52-week range of $26.15 to $38.39.
Rubicon Technology Inc. (NASDAQ: RBCN) was raised to Buy from Hold, and the price target was doubled from $5 to $10 for the stock. At $5.95, that is about an 80% implied upside, and it tops the price street-high call of $9.50. Its 52-week range is $4.83 to $11.59.
Shares, or ADRs, of Aixtron SE (NASDAQ: AIXG) were raised to Hold from Sell. At $13.65, the 52-week range is $11.21 to $19.16.