Northland Capital Markets upgraded Ultra Clean (NASDAQ: UCTT) from Market Perform to Outperform with a price target of $8.00 following better-than-expected results and guidance.

Analyst Colin Rusch commented, "UCTT reported in line Revenue at $117.5M with EPS at $0.07, ahead of the street at $114.4M and $0.02 on better than expected cost management. 3Q15 guidance for Revenue of $117M-$122M and EPS of $0.05-$0.09 was ahead of the street at $115.6M and $0.02. We are upgrading to Outperform (from MP) primarily on valuation noting the company is managing costs better than we anticipated."

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Shares of Ultra Clean closed at $5.42 yesterday.