Ultra Clean (UCTT) PT Raised to $70 at DA Davidson, EPS Jumps 20c

April 20, 2021 8:46 AM EDT
Get Alerts UCTT Hot Sheet
Price: $48.48 --0%

Rating Summary:
    7 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 5 | New: 58
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

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."



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change

Related Entities

D.A. Davidson, Earnings, Definitive Agreement, Equity Offerings