GT Advanced Technologies Inc. (NASDAQ:GTAT): Dougherty & Co Initiated Coverage with a “Buy”

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Dallas, Texas  05/15/2014 (FINANCIALSTRENDS) –GT Advanced Technologies Inc. (NASDAQ:GTAT)’s stock recently received coverage by investment analysts at Dougherty & Co who assigned a “buy” rating to the stock with a price target of $29 which suggests close to 109% upside potential from its Wednesday’s close of $13.88.

Among other analysts who have recently commented on the stock include, equities research analysts at Goldman Sachs who, however, reduced their price target on the stock to $22 from their previous target of $24, in a research note issued on May 9, 2014.

Secondly, investment analysts at Canaccord Genuity reaffirmed their “buy” rating for the stock of GT Advanced Technologies Inc. (NASDAQ:GTAT), in a research note issued on May 9, 2014. However, they also cut the price target for the stock from $21 to $20.

Finally, equity analysts at Zacks upgraded their rating for the stock to an “outperform” rating from previously held “neutral” rating. They maintain a price objective of $19.50 on the stock.

In overall, seven investment analysts maintain a “buy” rating for the stock and one analyst maintains a “hold” rating for the stock. On a consensus, the stock of GT Advanced Technologies has a “buy” rating with a price target of $19.80 which suggests potential upside of 42.65% from the stock’s closing price on Wednesday.

Stock Update:

GT Advanced Technologies Inc. (NASDAQ:GTAT)’s stock yesterday closed at $13.88, losing 2.80% from its previous close. The stock traded with lower volume of 6.92 million shares as compared to its 30 day average trading volume of 8.77 million shares. The stock has gained nearly 58% year to date. Its 52 week range is between $3.44 and $19.44. GT Advanced Technologies’ market capitalization is $1.89 billion with total 136.38 million shares outstanding.

Recently the company’s filing with the SEC revealed that Jeffrey John Ford, Vice President of the company, sold 55,430 shares of the company’s common stock on May 12, 2014 for an average price of $13.35 and a total transaction value of approximately $739,990.

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