Qnity Electronics price target lowered to $110 from $120 at RBC Capital

RBC Capital lowered the firm’s price target on Qnity Electronics (Q) to $110 from $120 but keeps an Outperform rating on the shares. The recent stock weakness could be due to uncertainty in semiconductor growth outlooks, concerns around an AI bubble, and not any new negative readthroughs, the analyst tells investors in a research note. RBC adds that Qnity maintains that advanced node chips should continue to drive growth and legacy chips, which have potentially bottomed with low-to mid-70s industry utilization rates.