Diodes (DIOD) PT Raised to $72 at Baird

Baird analyst Tristan Gerra raised the price target on Diodes (NASDAQ: DIOD) to $72.00 (from $56.00) while maintaining a Neutral rating.

The analyst commented: "Our Neutral rating continues to reflect our views of a weakening macro environment, even as more end markets are reaching inventory stabilization. Absent a V-shaped recovery, elevated inventories in the balance sheet likely preclude a rise in utilization rates near term which a return to 40% gross margin level mandates. Of help is the company's proactive steps migrating currently-outsourced capacity to their internal production. We continue to see pricing as a risk industry-wide later this year."

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