Cohu gains after Rosenblatt Securities initiates with 'buy'

Cohu

30/06/2021 14:21

** Shares of semiconductor testing company  COHU.O  up 3.5%
at $37.86 premarket
    ** Rosenblatt Securities initiates coverage on COHU with
"buy" rating and $65 price target, an upside of ~78% to stock's
last close
    ** Brokerage says "we're in a 'Mother of All Cycles' period
in Semiconductor," and COHU is on board the train
    ** Expects COHU's sales to continue benefiting from auto and
industrial markets 
    ** Brokerage says the concerns about co, which have
restrained the stock and reduced its valuation, are likely to be
displaced by outperformance over the next year from high quality
earnings growth
    ** Co's cost reduction strategies around cost of goods sold
and operating expenses to reduce earnings variability going
forward - Rosenblatt
    ** 6 of 7 brokerages rate the stock "buy" or higher and 1
"hold"; median PT is $58 - Refinitiv
    ** Shares down 4.2% this year as of its last close

 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))