KeyBanc Capital Markets Initiates Veeco Instruments Coverage

KeyBanc Capital Markets initiated Veeco Instruments

coverage with a Hold rating in a research report published today. In the report, KeyBanc Capital Markets states, "We are initiating coverage with a HOLD rating as we are constructive about the underlying demand trends for MOCVD tools and Veeco (VECO-NASDAQ) share gains, but believe a glut of capacity will persist longer than anticipated." Shares of Veeco Instruments closed today at $27.53, up 1.96% from Wednesday's market close.