Jun 3, 2011
GT Solar International (NASDAQ:SOLR) announced it received an order for its advanced sapphire crystallization furnaces totaling $460.4 million from a new market entrant.
Tom Gutierrez, GT Solar's president and CEO said, "Our customer is a well established, diversified manufacturing company located in China who is new to the LED industry. We are pleased that they have selected our advanced sapphire growth technology for their new sapphire production facility. The market acceptance of our sapphire growth technology has been remarkable and it speaks to the confidence our customers have shown in our ability to help them build successful businesses that leverage our crystalline growth expertise and our global equipment installation and support resources."
GT Solar International has a potential upside of 22.5% based on a current price of $12.02 and an average consensus analyst price target of $14.72.
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