UPDATE: Canaccord Genuity Initiates Nanometrics at Buy; Recovery Play in Logic and Memory
Canaccord Genuity initiated Nanometrics (NASDAQ: NANO) with a Buy rating and a $20.00 price target.
Canaccord Genuity commented, "We believe that Nanometrics has key market share in logic as well as memory and that a recovery here will drive a back-half rebound. We see upside potential on further penetration into foundry, which is expected to remain strong on mobile applications, and we see an embedded call option on advanced packaging into 2014. Nanometrics benefits from both the cyclical rebound in overall semiconductor spending as well as the secular trend of increased capital intensity for process control in advanced semiconductor nodes."
Nanometrics closed at $14.84 on Wednesday.
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