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UPDATE: JP Morgan Upgrades Nanometrics to Overweight on TSMC on Catalysts and Outlook

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JP Morgan raised its rating on Nanometrics (NASDAQ: NANO) from Neutral to Overweight and lifted its price target from $14.50 to $16.

JP Morgan noted, "We believe NANO shares fully reflect the weak outlook and believe the news of the TSMC win and the expectation of an improving margin profile going forward is likely to attract investors who are looking for a secular SemiCap story. In addition, OCD equipment growth looks to continue to outperform the overall WFE market, and we think all of these catalysts are likely to cause NANO to outperform over the next 12 months. Nano is the only SemiCap company we have under coverage where we expect revenue to grow in 2013 vs. 2012. This is with the backdrop of a YoY decline in the WFE market."

Nanometrics closed at $12.96 on Friday.

Latest Ratings for NANO

DateFirmActionFromTo
Nov 2016Stifel NicolausDowngradesBuyHold
Oct 2016Pacific CrestDowngradesOverweightSector Weight
Oct 2015KeyBancMaintainsOverweight

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Posted-In: JP MorganAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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