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Fly News Breaks for June 28, 2018
IMI
Jun 28, 2018 | 08:56 EDT
Lake Street analyst Jaeson Schmidt started Intermolecular with a Buy rating and $3 price target. The analyst thinks the company is approaching an inflection point where revenue growth will accelerate and earnings will expand as it emerges from its turnaround and benefits from increasing complexity in the semiconductor manufacturing process. With 34% of the market capitalization in cash, and the stock trading at only 2.5 times tangible book, the shares have a "relatively solid backstop," Schmidt tells investors in a research note.
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