Stifel analyst Brian Chin upgraded Cohu to Buy from Hold and raised his price target for the shares to $22 from $18.50. Following the company's Q1 results, the analyst has improved confidence that fundamentals have bottomed, a recovery is forming, and that Cohu will emerge in the next upcycle with an improved operating model. The "real new news" on the earnings call is the "dramatic pull-forward" of the company's cost restructuring, now anticipated to result in $40M annualized expense savings at the end of 2019, Chin tells investors in a research note. He believes current share levels offer an attractive entry point into Cohu.