Rubicon +3.3% on Oppenheimer upgrade

Citing valuation, Oppenheimer has upgraded Rubicon (RBCN) to Perform.

The beaten-down/heavily-shorted sapphire wafer maker closed yesterday not far from its 52-week low of $6.84, after getting crushed at the beginning of the month due to an EPS miss and poor guidance.

Dougherty started coverage on Rubicon with a Buy on May 13, while predicting a big top-line improvement.

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