Roth Capital Starts Intevac (IVAC) at Buy, $8.50 PT

Roth Capital initiates coverage on Intevac (NASDAQ: IVAC) with a Buy rating and a price target of $8.50.

Analyst Brian Alger commented, "Intevac is a misunderstood company trading well below fair value with significant upside optionality, in our view. We believe the current depressed valuation is due to inappropriate focus on its exposure to the Hard Disk Drive (HDD) markets and is not reflective of the diversified product and market opportunities developed over the past three years. We see the $50 million in Cash and one year backlog of $52 million reducing downside risk. We initiate coverage with a Buy rating."

For an analyst ratings summary and ratings history on Intevac click here. For more ratings news on Intevac click here.

Shares of Intevac closed at $4.72 yesterday.

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