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GT Advanced Technologies (GTAT) drops 6% premarket after Jefferies starts the maker of solar and...

GT Advanced Technologies (GTAT) drops 6% premarket after Jefferies starts the maker of solar and LED manufacturing equipment at Underperform. Jefferies' $5 PT values GT at just 4x its estimated calendar 2013 EPS, a low valuation the firm considers justified by solar and LED oversupply, order cancellation risk, and margin pressure.
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