UPDATE: Taglich Brothers Downgrades Amtech Systems to Neutral on Depressed Solar Outlook

Taglich Brothers reduced its rating on Amtech Systems

from Speculative Buy to Neutral. Taglich Brothers noted, "Solar industry manufacturers should experience a second year of uncertainty with many tier 2 and tier 3 manufactures likely to shut down in 2013. Tier 1 manufacturers should gain market share and begin to rebalance the industry's supply/demand equation. 2013 capacity investments are likely to be minimal. … We increased our projected loss for FY13 to ($0.93) from ($0.51) per share on sales of $45.7 million, down from $116 million. The reductions reflect a diminished solar order backlog of $13.8 million in 4Q12 from $26.1 million in 3Q12 and solar booking of only $2.1 million." Amtech Systems closed at $3.00 on Friday.