UPDATE: Deutsche Bank Initiates Edwards Group at Buy and a PT of $10

In a report published earlier today, Deutsche Bank initiates Edwards Group (NASDAQ: EVAC) at a Buy rating and a price target at $10. Deutsche Bank notes, “We expect Edwards Group the leading vacuum and abatement equipment provider to demonstrate above average revenue/earnings growth and strong cross cycle cash generation/margin profile due to its dominant position in semis as well a exposure to the general vacuum segment. We believe the company ha incremental revenue opportunity of at least $100M/year when the EUV segment ramps going forward. Exposure to Intel (Buy, $27.51) and share gain at key foundries should offer near-term stability in an uncertain macro environment.” EVAC closed at $7.40 on Tuesday.