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Fly News Breaks for May 8, 2018
XCRA, COHU
May 8, 2018 | 14:23 EDT
As previously reported, Stifel analyst Patrick Ho upgraded Cohu (COHU) to Buy from Hold following the company's Xcerra (XCRA) acquisition announcement. He believes the deal has significant accretion potential and meaningful business synergies, Ho tells investors. He raised his price target on Cohu shares to $29 from $23 based on his estimates for the combined company to have pro-forma EPS of $2.90, $900M in annual revenues and $20M in targeted cost synergies.
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