Onto Innovation price target raised to $126 from $120 at Stifel

Stifel raised the firm’s price target on Onto Innovation (ONTO) to $126 from $120 and keeps a Hold rating on the shares. The company’s Q3 results and Q4 outlook were in line, reflecting an expected sequential rebound off the low Q3 levels, the analyst tells investors in a research note. The firm added that Onto’s commentary suggests potential for choppiness into Q1, with visibility into timing/magnitude of expansion yet unclear.