UPDATE: Credit Suisse Upgrades Veeco Instruments to Outperform, Raises PT on Multiple Positive Factors

In a report published Wednesday, Credit Suisse analyst Brandon Heiken upgraded the rating on

from Neutral to Outperform, and raised the price target from $30.00 to $50.00. In the report, Credit Suisse noted, “We are upgrading VECO to Outperform based on (i) an improved outlook for orders due to higher margins and yields for LED manufacturers, (ii) an approaching trough in MOCVD margins as we believe competitor Aixtron nearly is finished selling down inventory at discounted prices, and (iii) upside from Fast ALD orders from Samsung likely to start in 2014.” Veeco Instruments closed on Tuesday at $38.60.