Boston, MA 03/06/2014 (wallstreetpr) – Equity researchers at Bank of America have recently weighed into GT Advanced Technologies Inc. (NASDAQ:GTAT) impressive fourth quarter and full year earnings by raising their price target of the company’s stock from $15.50 to $18.50. The price target by bank of America suggests an upside potential of 10.78% of the current share price.
GT Advanced Technologies Inc. (NASDAQ:GTAT) currently has a one year low of $2.63 and a high of $16.70 with a 50 day moving average of $11.21, its 200 day moving average stands at $9.09. Its market cap stands at $2.105 billion; its short interest for the month of February stood at 32.13 million shares an increase of 4.7% from January’s $30.7 million shares. GT Advanced technologies improved by 74.50% the last month alone while also having grown by 87.22% over the past three months
Rating from other firms
Analysts at Goldman Sachs raised their price target of the company’s stock to $20 with a “Buy” rating as the company continues to show significant strength. Impressive revenue growth metrics accompanied with a strong cash flow are some of the strengths that are moving GT Advanced technology in the market. With cash and cash equivalent estimated to be around $593 million, GT Advanced Technologies Inc. (NASDAQ:GTAT) is expected to perform even better in the coming quarters
Analysts at Thomson Reatures as a result of the reported strong fourth and full year results have upgraded their ratings of the company’s stock from a “Sell” to a “Hold”. GT Advanced announced impressive earnings on Monday in which earnings per share came in at $0.26 beating consensus estimates at the back of total revenues for the quarter of $32.60 million. Its sapphire deal with Apple should act as the driving force behind an impressive growth pattern in the coming quarters.
GT Advanced Technologies Inc. (NASDAQ:GTAT) continued to jump in the markets on Wednesday trading session as its stock surged by a high of 2.28% to close the day at highs of $17.08
