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Fly News Breaks for January 23, 2019
COHU
Jan 23, 2019 | 05:11 EDT
Stifel analyst Brian Chin downgraded Cohu to Hold and lowered his price target for the shares to $20 from $30 after taking over coverage of the name from Patrick Ho. The analyst says the downgrade is valuation driven, as he continues to believe in the rationale and merits for acquiring Xcerra. However, after lowering his estimates to reflect a weaker outlook for smartphone demand and potential capacity digestion, he believes the stock's risk/reward is neutral with downside and upside "relatively in balance."
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