Ichor Holdings price target lowered to $28 from $35 at Stifel

Stifel lowered the firm’s price target on Ichor Holdings (ICHR) to $28 from $35 and keeps a Buy rating on the shares. Earnings missed the firm’s and consensus estimates as gross margin expansion fell short of expectations, notes the analyst, who points out that the transition to more internally-supplied components is taking longer than management envisioned and that Ichor now expects margins to expand at a slower rate as a result.