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Fly News Breaks for June 19, 2019
Jun 19, 2019 | 09:21 EDT
B. Riley FBR analyst Craig Ellis last night initiated coverage of Nanometrics with a Buy rating and $41 price target. The analyst believes investors are overlooking the company's secular growth drivers and company-specific expansion potential because of lingering concerns over its China exposure. China accounts for only 10% of sales, yet Nanometrics shares are 30% below their 52-week high, Ellis tells investors in a research note. The analyst believes rising equipment intensity is a "powerful secular equipment spending driver" spanning all Nanometrics end markets.
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