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Fly News Breaks for January 31, 2020
Jan 31, 2020 | 08:30 EDT
Craig-Hallum analyst Christian Schwab raised his price target for Kulicke & Soffa to $40 from $30 and reiterated a Buy rating after the company reported another "solid" quarter and guidance, saying he believe the worst is firmly behind the company. Schwab has increased confidence the company can drive its FY22 target model of $1-$1.2B revenue and EPS power of ~$4.00, driven by a recovering memory and auto market, secular tailwinds from 5G, the IoT, AI and big data, as well as expansion of the company's advanced packaging solutions. Ultimately, Schwab believes shares could trade to upwards of $60 with a mid-teen's P/E multiple, in-line with the company's historic forward P/E.
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