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Fly News Breaks for November 6, 2019
VSH
Nov 6, 2019 | 06:11 EDT
BofA/Merrill analyst Ruplu Bhattacharya downgraded Vishay Intertechnology to Underperform from Neutral with an unchanged price target of $17. The analyst sees the company's fundamentals "remaining weak" over the next few quarters and notes the stock is up 42% since the end of August. Over half of Vishay's revenue comes from the distribution channel, where the inventory correction is expected to take another two quarters to play out, Bhattacharya tells investors in a research note.
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