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Fly News Breaks for February 7, 2017
ORBK
Feb 7, 2017 | 07:20 EDT
Oppenheimer analyst Andrew Uerkwitz raised his price target for Orbotech to $42 from $35, saying he sees the company as an "underappreciated gem" in the semiconductor equipment space. The analyst believes Orbotech's current valuation, at over 20% discount to peers, is unwarranted, and thinks the company will consistently grow revenues and profits due to multiple industry tailwinds, favorable product mix, and operating leverage. He reiterates an Outperform rating on the shares.
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