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Fly News Breaks for March 12, 2018
UMC, SSNLF, PLAB
Mar 12, 2018 | 06:17 EDT
DA Davidson analyst Thomas Diffely writes that his latest meeting with Photronics (PLAB) management has suggested that the company is increasingly resonating with investors for 3 reasons: 1) two of its key clients - UMC (UMC) and Samsung (SSNLF) - are seeing recovery in business, 2) China expansion is progressing, 3) management has better visibility in the company's dominant position in the global photomask market. Diffely keeps his Buy rating and $15 price target on Photronics, adding that the company's May 23rd analyst meeting will serve as a "meaningful catalyst" to the stock and lead to long term price target revisions.
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