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

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

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.