Wunderlich Securities Reiterates Buy on GT Solar

Wunderlich Securities reiterated its Buy rating on GT Solar SOLR after the company announced better than expected quarterly results. In a research report published today, Wunderlich named a new line of products as one of the drivers of strong Q1 performance. In the report, Wunderlich states, "GT Solar (SOLR) reported fiscal 4Q on May 24 and beat consensus expectations. The company also guided higher for both revenue and earnings in fiscal 2012. The company is benefiting from the successful introduction of a new product line of equipment that puts it squarely into the blue LED segment, which is the key component required to make white light. The LED business is driving upside to 2012. Recent news reports suggest SOLR could be an acquisition target and we agree. It is exceptionally profitable and has a large and growing backlog. Our DCF yields a $16 target. We continue to rate SOLR shares Buy." At the moment, Wunderlich has a price target of $16 on GT Solar's shares. GT Solar is currently standing at $12.04, or 3.61% above yesterday's close.