Stifel analyst Brian Chin lowered the firm’s price target on Onto Innovation (ONTO) to $200 from $250 and keeps a Buy rating on the shares after having hosted meetings with CEO Mike Plisinski and VP of Investor Relations Sidney Ho. The discussion reinforced the view that growth in 2025 would be driven by Onto’s WFE-oriented advanced nodes business, which is seeing improved customer, market and product momentum, though the advanced packaging and specialty business faces some incremental headwinds, the analyst tells investors. In aggregate, the firm still sees Onto outpacing industry growth in 2025, the analyst noted.
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