Disco downgraded to Hold from Buy at Jefferies

Jefferies analyst Masahiro Nakanomyo downgraded Disco to Hold from Buy with a price target of 50,000 yen, down from 53,000 yen. While Disco is well positioned for medium- to long-term growth in power semiconductor, SiC, wafer-making, and advanced package applications, the share price continues to rise and the valuation has become "relatively high" among Japan’s Semi Precision Equipment firms, the analyst tells investors.