J.P. Morgan Predicts Big Stock Upside On Veeco Instruments

In a report published by J.P. Morgan, Veeco Instruments' VECO cash flow potential points to big stock upside from here.

J.P. Morgan said that Veeco remains one of the most undervalued names in its coverage universe, and it remains befuddled by its inability to garner meaningful valuation in the public equity markets despite its combination of strong cash flow & clean balance sheet, growing market share, and secularly attractive end market fundamentals. “In particular, we believe Veeco's longer-term cash flow potential is being vastly underestimated. To that end, our in-depth look at cash flow valuation in this report suggests the stock still offers risk/reward of nearly 3-to-1 and is undervalued by as much as 20-25%.”

Veeco Instruments closed yesterday at $47.48.