Veeco Instruments Inc. (VECO) Earnings Preview - Stifel
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Stifel analyst Patrick J. Ho reiterated a Buy rating and $26.00 price target on Veeco Instruments Inc. (NASDAQ: VECO) ahead of 2Q21 earnings on Tuesday after the market close.
The analyst commented "We expect the company to generally meet our estimates of $136.8 million in revenue and proforma EPS of $0.25, excluding options. As it has been the past few quarters, we expect its semis and data storage businesses to be the largest contributors to the June quarter. We expect these positive trends to continue in the near term, although we will monitor management’s comments regarding any potential supply chain constraints that could impact these businesses. Demand trends remain robust, and any limiting factors will be supply-related. Long term, we believe there will be areas which can supplement the growth in its semis and storage businesses. Advanced packaging could grow further in 2022, and while we remain conservative on its MOCVD opportunity, this could also supplement growth in 2022."
Shares of Veeco Instruments Inc. closed at $23.20 yesterday.
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