Nova price target lowered to $240 from $300 at Evercore ISI

Evercore ISI lowered the firm’s price target on Nova (NVMI) to $240 from $300 and keeps an Outperform rating on the shares following Q1 results. The firm noted that Nova issued Q2 guidance below its expectations. However, Evercore said it would be buyers of weakness of what it senses as conservative guidance in light of macro-related uncertainty from tariffs.