TD Cowen analyst Krish Sankar lowered the firm’s price target on Ultra Clean (UCTT) to $30 from $32 and keeps a Buy rating on the shares. The firm said domestic China customer sales is the biggest near-term risk. Investors don’t want to pay a premium for China revenuess, but it does help buoy estimates. Cowen believes management is focusing on the right track like operational improvements and securing additional design wins.
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Read More on UCTT:
- Ultra Clean Holdings: Strong Q2 Performance and Optimistic Outlook Drive Buy Rating
- Ultra Clean Holdings: Strategic Positioning and Growth Potential Amidst Challenges
- Ultra Clean reports Q2 non-GAAP EPS 27c, consensus 27c
- Ultra Clean sees Q3 non-GAAP EPS 14c-34c, consensus 27c
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