InvestmentPitch : Canaccord Genuity Upgrades Coverage on Rubicon Technology
(NASDAQ:RBCN) - Video Summary on www.investmentpitch.com
Vancouver, British Columbia, March 26, 2013 - Canaccord Genuity has upgraded
coverage on Rubicon Technology (NASDAQ:RBCN). Analyst Jonathan Dorsheimer
gives the company a new buy rating with a $10 price target, double the
previous target of $5.00, and a 68% premium to the $5.95 price at the time the
report was issued. The new target is based on an expectation of slightly
higher revenues and a modest uptick in profitability for 2014.
InvestmentPitch.com has produced a "video news alert" which provides a brief
overview of Rubicon Technology based on the research report. If this link is
not enabled, please visit www.InvestmentPitch.comand enter "Rubicon" in the
Based outside of Chicago, Illinois, Rubicon is a materials company
specializing in growing monocrystalline sapphire products mainly for the LED
and radio frequency integrated circuit (RFIC) markets. The company applies its
proprietary crystal growth technology to produce very high-quality sapphire in
a form that allows for volume production of various sizes and orientation of
substrates and windows.
Sapphire ingot is typically used as raw material for further fabrication. The
company is the world leader in larger diameter sapphire products to support
next-generation applications, supplying 2 inch, 3 inch, 4 inch and 6 inch
sapphire cores and wafers as well as sapphire optical products for the
aerospace and defense market.
Canaccord stated, "We believe that Rubicon can be among the lowest-cost
providers when its factory is properly utilized, positioning the firm well for
the eventual rebound."
Canaccord cautions that Rubicon is subject to several investment risks such as
an industry-wide transition to another substrate material or the potential for
wafer reuse, which would decrease demand for new substrates.
Canaccord concluded, "We believe shares are washed out and that overall
sentiment in the LED space will take the stock higher over the coming year."
Rubicon currently trades at $6.25, and with 22.5 million shares outstanding,
is capitalized at $141 million.
For more information please visit the company's website www.rubicon-es2.com,
or call Dee Johnson, Vice President of Investor Relations at 847-457-3426 or
by email at email@example.com.
For more information about Canaccord Genuity or to obtain a copy of their
research report, contact your nearest Canaccord Genuity office. Their branches
are listed on their website at www.canaccord.com.
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Barry Morgan, CFO
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