UPDATE: DA Davidson Upgrades ATMI to Buy
DA Davidson raies its rating on ATMI (NASDAQ: ATMI) to Buy with an increased target price of $26 as expectations improve on wafer starts growth.
DA Davidson says, "Our channel checks indicate that Q1 wafer starts at the leading Taiwanese foundry TSMC (TSM -$14.49) accelerated, and are now expected to be up close to 8%-10% sequentially compared to the previous expectation of up 5%. Similarly, the second leading Taiwanese foundry UMC (UMC - $2.58) had guided for a marginal increase in wafer starts on its Q4:CY11 conference call, but now may see wafer starts up more than 5% in Q1."
ATMI closed at $22.78 a share yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.