J.P. Morgan Maintains OW Rating, $36 PT On RBCN

J.P. Morgan is maintaining its Overweight rating and $36 PT on Rubicon Technology, Inc. RBCN. “Our recent checks indicate LED wafer pricing for C1Q11 remains relatively in line with C4Q10 levels,” J.P. Morgan writes. “We have not seen any signs that ASPs have changed materially over the past couple of months. “In spite of all the negativity surrounding RBCN and LED wafer supply/demand, we have not seen evidence that makes us concerned about LED wafer pricing in the near term.” Rubicon Technology closed Monday at $18.01.