Craig Hallum sees dent in Ultra Clean's stock price as buying opportunity
12/04/2022 15:49
** Craig Hallum believes Ultra Clean UCTT.O will
outperform its peers and stock's current value weakness as a
buying opportunity
** On Monday, shares hit an over 15-month low after co cut Q1
rev forecast, with delivery of materials from-and-to China hurt
by government-mandated lockdowns and grounding of Boeing 737-800
urn:newsml:reuters.com:*:nL3N2W9364
** However, broker believes UCTT can shift production, in
case of a lockdown in the country, and sees no long-term drop in
demand due to Boeing grounding
** Lead analyst Christian Schwab reiterates 'buy' rating and
PT of 73, which is ~115% premium to stock's current level
** "We believe the company can drive share gains with its
largest customers, Lam Research LRCX.O and Applied Materials
AMAT.O " - Schwab
** Up to last close, stock fell 41.3% YTD
(Reporting by Nandhini Srinivasan)
((Nandhini.Srinivasan@thomsonreuters.com;))