As previously reported, Oppenheimer upgraded Ichor Holdings (ICHR) to Outperform from Perform with a $25 price target The firm notes that it has been skeptical for over a year, but after two hard resets, margins at trough levels, and CEO change, the setup looks asymmetrically positive. Ichor is the worst performing semiconductor equipment stock, which Oppenheimer sees as extreme. Q4 is guided to EPS loss, but Ichor has almost $1B revenue and earned $3.50 annually in 2021-202, making the firm believe it’s bottomed with rapid delta improvement to $1.35 in 2027.
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