JPMorgan analyst Mio Shikanai upgraded Lasertec to Overweight from Neutral with an unchanged price target of 40,000 yen. The company’s share price has fallen by 42% since June 4 due to a series of news related to major logic foundries, such as delays in high-NA and Intel’s (INTC) reduction in capital investment, but the earnings results for FY6/24 announced on August 7 confirmed strong order intakes, dispelling concerns, the analyst tells investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue