Seeking Alpha

Ichor targets raised after 'monster' outlook

|About: Ichor Holdings, Ltd. (ICHR)|By: , SA News Editor

B. Riley (Buy) raises its Ichor (NASDAQ:ICHR) target from $40 to $45 after yesterday's preliminary Q4 results.

The firm was "pleasantly surprised with the revision and F1Q20’s upside magnitude" and sees the potential for strong "margin leverage and powerful EPS follow-through."

DA Davidson (Buy) lifts Ichor from $38 to $40, noting that the "monster" outlook implies that Q1 "will be the third largest revenue quarter in the company’s history."

Lam Research (LRCX +0.6%) and Applied Materials (AMAT +0.9%) are up after the outlook since the companies account for 56% and 32% of Ichor's revenue, respectively, according to Bloomberg data.

Ichor shares are up 16.8% to $36.10.

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