Veeco (VECO -3.7%) slides after Piper lowers its estimates and makes cautious remarks, albeit while reiterating an Overweight. Though believing LED equipment bookings have bottomed, the firm notes management hasn't yet received "concrete signs" of major pickup in demand. Nonetheless, Piper thinks Veeco and Aixtron (AIXG) will maintain an equipment duopoly, and that 2013 will represent "the beginning of a multi-year upcycle in LED lighting." (UBS)
Veeco (VECO -3.7%) slides after Piper lowers its estimates and makes cautious remarks, albeit...
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