Stock Rating Downgrade
During the last several trading days the Value Trend Rating for Veeco Instruments Inc (NASDAQ: VECO) weakened from B to C reflecting eroding fundamentals and low Appreciation Potential.
Recent Price Action
On 6/14/24, Veeco Instruments Inc (NASDAQ: VECO) stock declined modestly by -1.5%, closing at $45.84. However, this decline was accompanied by below average trading volume at 80% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 5.7% during the last week.
Current PriceTarget Research Rating
VECO is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Veeco Instruments has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Veeco Instruments has a poor Appreciation Score of 29 but a very high Power Rating of 93, producing the High Neutral Value Trend Rating.
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