Craig-Hallum raised the firm’s price target on Photronics (PLAB) to $42 from $36 and keeps a Buy rating on the shares. The firm believes the company is positioning itself for greater growth and market share gains as they ramp up to full capacity at their Allen, Texas facility. Craig-Hallum expects this will free up additional capacity at their Boise facility that is dedicated to higher end applications. It also believes the company is well positioned as greater regionalization of manufactures are becoming more willing to outsource photomask manufacturing.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLAB:
- Largest borrow rate increases among liquid names
- Photronics price target raised to $45 from $30 at DA Davidson
- Photronics’ Earnings Call: Positive Outlook Amid Challenges
- Midday Fly By: SK Hynix weighs U.S. listing, GE Vernova doubles dividend
- Morning Movers: Chewy climbs following third quarter results