ChipMOS (IMOS) Numbers Cut at Cowen Ahead of Results

Cowen analyst Timothy Arcuri lowered estimates and his price target on ChipMOS (NASDAQ: IMOS) to $25.00 (from $30.00) ahead of Q2 results.

Arcuri commented, "Cutting estimates and target to $25 as soft panel demand is impacting near-term results; now see CQ3 down slightly versus prior +800bps but see CQ4 likely up (usually down seasonally), strong potential for a bigger buyback, and China SOE investment should also be finalized by YE. Share collapse should close ~15% arb gap with Taiwan and 2016 should be very strong year off easy compares"

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

Shares of ChipMOS closed at $15.69 yesterday.

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