Nanometrics (NANO) target was upgraded late yesterday to $17 from $13
NANO to Benefit From Expansion in Diversity of Equipment Vendors
Posted on 12/28/09
at 1:48pm by Monica Gerson
Analysts at Piper Jaffray maintain their "overweight" rating on Nanometrics
(NASDAQ: NANO). The target price for NANO has been raised from $13 to $17.
According to Piper Jaffray, Nanometrics' recent share count increase has been
offset by higher revenue and gross margin assumptions. Industry contacts
indicate that NANO is poised to benefit from the expected increase in the
diversity of semiconductor equipment vendors, the analysts say.
According to Piper Jaffray, the expected increase in capital spending from
companies such as Hynix and Toshiba during 2010 would benefit Nanometrics
substantially. Moreover, the overlay market is likely to drive NANO's growth
significantly over the forthcoming quarters, the analysts say. If the company
begins to penetrate the overlay market with its new product offerings, there can
be significant upside to the estimates, the analysts add.