Stifel analyst Matthew Sheerin upgraded Kemet to Buy from Hold with an unchanged price target of $26. While the company is facing headwinds similar to competitors amid weakening demand and an inventory correction, its fundamentals have held up significantly better than comps due primarily to its product portfolio, Sheerin tells investors in a research note. The analyst says Kemet's top competitors are de-emphasizing multi-layer ceramic capacitors. As such, growth in the unit should offset weakness in other of Kemet's product segments, contends Sheerin. He expects the company's fundamentals to hold up better than peers given its "niche" position in multi-layer ceramic capacitors.