GT Advanced surges; Goldman ups PT, praises Apple deal

|About: GT Advanced Technologies, Inc. (GTATQ)|By:, SA News Editor

Goldman, which launched coverage on GT Advanced (GTAT +6.7%) a month ago with a buy, has hiked its PT to $24 from $20. The firm thinks a next-gen iPhone will be worth $15/share to GT in a base-case scenario, and $25/share in an "upside case" scenario.

Last week, AppleInsider reported Apple and GT are looking to expand their new Mesa, AZ sapphire facility, and that the current facility should eventually contain 1.7K sapphire furnaces.

Is another short-squeeze taking place? 26% of GT's float remained shorted as of March 14.