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GT Advanced (GTAT +7%) pops after Jefferies declares the bad news priced in and upgrades shares...

GT Advanced (GTAT +7%) pops after Jefferies declares the bad news priced in and upgrades shares to Hold. While cutting estimates on GT and arguing there's additional backlog risk, the firm also notes shares trade roughly at book value, and it sees orders for sapphire LED and solar polysilicon manufacturing equipment potentially acting as 2H and 2014 catalysts (though it wants to see more visibility). 30.3% of the float was shorted as of Dec. 31. (restructuring plans)
Comments (1)
  • Man. This is like saying your girlfriend is ugly but at least you have a girlfriend.
    17 Jan 2013, 02:49 PM Reply Like
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