Market Overview

UPDATE: Canaccord Genuity Downgrades GT Advanced Technologies to Hold, Lowers PT

Related GTAT
Will The iPhone 6S, iPhone 7 Feature An Entirely New Display?
CRT Capital Comments On GT Advanced Technologies Bankruptcy Proceedings; Recent Developments 'Generally Negative' For Bonds

In a report published Wednesday, Canaccord Genuity downgraded its rating on GT Advanced Technologies (NASDAQ: GTAT) from Buy to Hold, and lowered its price target from $9.00 to $6.00.

Canaccord Genuity noted, “Despite the recent optimism and announcements, after speaking with many companies within the sapphire supply chain we conclude that the sapphire cover glass opportunity is not a near-term possibility using GTAT's ASF method. As we have previously indicated, this is an opportunity about which handset makers are seriously inquiring. However, our meetings suggest this is Apple-driven and Samsung is heading towards more of a plastic-based OLED approach.”

GT Advanced Technologies closed on Tuesday at $5.65.

Latest Ratings for GTAT

Sep 2014Goldman SachsDowngradesBuyNeutral
Sep 2014Piper JaffrayDowngradesOverweightNeutral
Sep 2014Canaccord GenuityMaintainsHold

View More Analyst Ratings for GTAT
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Analyst Ratings


Related Articles (GTAT)

Get Benzinga's Newsletters