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Ultratech

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  1. Capacity Acquisition and Higher Prices Lead to Increase in Shree's Fair Value to INR 8,100

    Commentary

    Thu, 11 Dec 2014

    tonnes versus 21 million tonnes earlier. We now value Shree at an 11 times enterprise value/EBITDA multiple, similar to Ultratech and Ambuja in our coverage universe. At the current price of INR 9,000, the stock looks slightly overvalued. In our view

  2. Inventory Management Powers Ambuja’s Upside Profit Surprise; Shares Undervalued

    Commentary

    Tue, 4 Nov 2014

    value estimate stands at INR 262 per share. Following our coverage initiation, Ambuja’s share price has outperformed Ultratech by 13%, and remains undervalued. Equity markets are underestimating the synergy benefits of Ambuja, ACC and Lafarge

  3. Ambuja Expected to Show Improved Relative Pricing Power; Shares Undervalued

    Commentary

    Sun, 26 Oct 2014

    stronger, double-digit price hikes taken in other parts of India in June. Last week, in its regular quarterly disclosure, Ultratech Cement posted a 5% increase in price. We expect similar for Ambuja. We value Ambuja as a consolidated entity, owning both

  4. Ultratech ’s Second-Quarter Margins Swing Wider; Fair Value Estimate Increases to INR 2,400

    Commentary

    Wed, 22 Oct 2014

    expense over the next three years as Ultratech pursues debt funded acquisitions. We ..... value of money since we last reviewed Ultratech . The shares remain close to fairly valued ..... economic moat rating, which is anchored by Ultratech ’s strong pricing power in key markets

  5. Weak Realisations, Higher Fuel and Power Expenses Produce a Weak First-Quarter Result for Ultratech

    Commentary

    Mon, 28 Jul 2014

    Ultratech 's fiscal 2015 first-quarter net sales ..... the company, which is underpinned by Ultratech 's strong pricing power in key markets ..... industry-level entry barriers that benefit Ultratech stem from the proximity to raw-material

  6. Dropping Coverage of Ultratech

    Commentary

    Fri, 14 Mar 2014

    We are no longer providing equity research on Ultratech . We provide broad coverage of more than 1,700 companies across more than 140 industries and adjust our coverage as necessary based on client demand and investor interest.

  7. Ultratech's Sales Decline 31% Sequentially; Under Review

    Commentary

    Thu, 17 Oct 2013

    We are placing Ultratech under review after the firm reported a third-quarter sales decline ..... through utilization issues in its semiconductor manufacturing process. Ultratech 's performance in the third quarter is clearly disappointing and

  8. Ultratech's Next-Generation Lasers Should Drive Meaningful Top-Line Growth

    Headlines

    Fri, 31 May 2013

    Ultratech UTEK is a semiconductor equipment supplier ..... manufacturing processes down Moore's Law. Ultratech 's proprietary laser spike annealing ..... result, we expect significant adoption of Ultratech 's LSA tools in the coming years, driving

  9. Ultratech's Shares Surge on Management's Revised Outlook

    Commentary

    Fri, 17 May 2013

    Ultratech UTEK stock has jumped close to $35 after ..... rating and $45 fair value estimate of Ultratech , as we continue to see compelling value in the company's future. Ultratech 's shares fell nearly 25%, to around

  10. Ultratech Slips on Near-Term Uncertainty

    Commentary

    Thu, 18 Apr 2013

    We are placing Ultratech UTEK under review after customer uncertainty ..... abrupt halt in the first quarter. Ultratech 's sales and profitability were lower ..... are maintaining its moat rating. Ultratech 's first-quarter sales fell to

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