Needham & Company Starts Cohu (COHU) at Buy

Needham & Company analyst N. Quinn Bolton initiates coverage on Cohu (NASDAQ: COHU) with a Buy rating and a price target of $20.00.

The analyst comments "Cohu is the market leader in semiconductor test handlers and test sockets, with a strong focus on the automotive semiconductor market. We believe the current COHU share price has factored in most of the bad news affecting the company, including the prolonged downturn in automotive semis and the COVID-19 induced global economic recession. However, we believe a recovery in 2021 and robust double-digit growth of automotive semis in the following 3-4 years will drive strong EPS growth for COHU from the current near breakeven level. We expect COHU revenue to trough in 3Q20 and encourage investors to buy the stock ahead of the automotive semi recovery in 2021."

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

Shares of Cohu closed at $15.81 yesterday.

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