Photronics (PLAB) Bullish Stance Reiterated at Needham & Company Following Analyst Day

Needham & Company analyst Y. Edwin Mok reiterated a Buy rating and $11 price target on Photronics (NASDAQ: PLAB) following yesterday's analyst & investor day in New York City. The event highlighted the company's leading position and growth opportunity ahead, the analyst said.

Mok commented, "The presentation was highlighted by mgmt's confidence and reinforced our belief in growth ahead. PLAB now holds the leading position in the merchant photomask industry, with the most advanced capabilities and strongest footprint across high-end and mainstream in both IC and FPD masks. Near term, we expect PLAB to continue to deliver improved quarterly financials driven by growth in high-end IC with multiple customers ramping and monetization of new FPD capacity. Longer term, we believe PLAB has room to drive substantially greater growth than the target model presented at the event."

For an analyst ratings summary and ratings history on Photronics click here. For more ratings news on Photronics click here.

Shares of Photronics closed at $8.60 yesterday.

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