Ultra Clean (UCTT) PT Raised to $70 at DA Davidson, EPS Jumps 20c
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DA Davidson analyst Thomas Diffely raised the price target on Ultra Clean (NASDAQ: UCTT) to $70.00 (from $62.00) while maintaining a Buy rating to reflect 3 issues: an improved industry outlook, the acquisition of Ham-Let, and a $175M-$200M equity offering.
The analyst stated "Bottom line: our 2021 EPS estimate increases from $3.55 to $3.65 and our 2022 estimate increases from $4.00 to $4.20, respectively. We are raising our PT from $62 to $70 (~18x 2022 EPS less net debt) on higher earnings and the influx of new cash that provides the company with significant flexibility to either pursue additional accretive acquisitions or retire a meaningful slug of debt."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesD.A. Davidson, Earnings, Definitive Agreement, Equity Offerings
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