Veeco price target lowered to $20 from $27 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Veeco (VECO) to $20 from $27 and keeps a Neutral rating on the shares after its Q1 results and below consensus guidance. The outlook was a bit weaker than expected as tariff impacts are causing delays to Chinese shipments and creating uncertainty, the analyst tells investors in a research note. Despite the uncertainty in the environment, Veeco continues to see traction growing in the semiconductor segment, highlighting additional eval systems to be shipped this year, the firm added.