Amkor Technology price target raised to $69 from $45 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Amkor Technology (AMKR) to $69 from $45 and keeps an Equal Weight rating on the shares. Amkor reported “a strong beat and raise as previewed,” driven by communications, particularly smartphone strength, better mainstream trends, and better gross margin percentage, the analyst tells investors. Following the report, the firm revised calendar year 2027 EPS up and increased its target multiple.