UPDATE: Canaccord Genuity Raises Target on Rubicon Technology to $10

Canaccord Genuity raises its price target on Hold-rated Rubicon Technology

on signs that the sapphire industry is picking up. Canaccord Genuity says, "While things look fairly bleak right now, we point out that the sapphire industry is actually showing signs of stabilizing. While we do not expect much in the way of price increases again, we note that Rubicon is one of the low-cost providers in the industry. With this in mind, we feel that when the industry turns and inventory is worked down the increasing utilization should return a good amount of leverage and income to the model." RBCN closed at $12.17 a share on Thursday.