UPDATE: Bank Of America Upgrades Ultratech On Multiple Positive Factors

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In a report published Monday, Bank of America analyst Krish Sankar upgraded the rating on

27% profit every 20 days?

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Ultratech

(NASDAQ: UTEK) from Neutral to Buy.In the report, Bank of America noted, “We are upgrading Ultratech from Neutral to Buy. While we do not expect any near-term catalysts, the three main reasons for our Upgrade are improving earnings profile, FinFET opportunity in CY15 and attractive valuation. While UTEK still has competitive headwinds, we believe the stock is appealing at current levels. We maintain our price objective of $31 based on 14x CY15E EPS plus cash.”Ultratech closed on Thursday at $22.99.