UPDATE: Canaccord Genuity Downgrades AIXTRON SE to Sell, Lowers PT as Market Share Troubles Persist

In a report published Tuesday, Canaccord Genuity analyst Jonathan Dorsheimer downgraded the rating on

from Hold to Sell, and lowered the price target from $13.00 to $7.00. In the report, Canaccord Genuity noted, “We are downgrading AIXG shares to SELL from Hold after meetings in the supply chain throughout Asia give us increased confidence that the company has lost significant share and that the next MOCVD cycle will likely disappoint.” AIXTRON SE closed on Monday at $16.96.