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Fly News Breaks for April 17, 2018
XCRA
Apr 17, 2018 | 08:35 EDT
Needham analyst Y. Edwin Mok upgraded Xcerra to Buy from Hold with a price target of $16. The analyst cites the company's participation in the long-term secular auto/industrial markets growth story as well as its relative value compared to peers in spite of trading at 52-week highs, with forward PE multiple of 8.5-times vs. 12.1-times for Teradyne (TER) and 10.7-times for Cohu (COHU). Mok says his prior concerns with slowing near-term growth is countered by "solid" expansion in Semiconductor Test Solutions total addressable market.
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