Piper Jaffray Rates GT Solar Overweight

According to Piper Jaffray, GT Solar (NASDAQ: SOLR) is rated Overweight.

Piper Jaffray said that its checks suggest $200m in potential new orders for SOLR's sapphire equipment from China alone. “By our estimates the potential $200m in revenue would add an additional $0.38 in EPS in FY13, assuming gross margins for sapphire equipment in the mid 40s. Each additional $10m translates into an incremental ~$0.02 in EPS.”

GT Solar closed yesterday at $14.35.