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Fly News Breaks for March 28, 2019
ICHR
Mar 28, 2019 | 09:37 EDT
RBC analyst Mitch Steves assumed coverage of Ichor Holdings with an Outperform rating and a price target of $29, saying he anticipates revenue growth in 2020 with the challenging 2019 for the "semi-cap space" being priced in. The analyst sees the company generating mid-high single digit WFE growth following a "notable reduction" this year and market share gains across both gas and chemical delivery markets. Steves adds that Ichor Holdings trades at an attractive valuation of below 13-times his expected forward-twelve-month earnings vs. 18-times earnings average for its peer group.
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