Photronics price target raised to $55 from $46 at Lake Street

Lake Street analyst Max Michaelis raised the firm’s price target on Photronics (PLAB) to $55 from $46 and keeps a Buy rating on the shares. After having recently hosted a fireside chat with the company’s VP of IR, the firm believes further multiple expansion is achievable as investors gain better visibility into the FY27 revenue acceleration and the recovery of the semiconductor market.