Goldman Sachs Maintains Neutral Rating for Veeco Instruments: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has maintained a Neutral rating for Veeco Instruments (NASDAQ:VECO) and increased its price target from $28.00 to $31.00. Veeco's shares are currently trading up 3.79% at $31.23, slightly above the new target. Veeco designs and manufactures thin-film process equipment, with over half of its revenue from the lighting, display, and power electronics market. The majority of its revenue comes from markets outside the United States.
January 18, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Goldman Sachs maintains a Neutral rating on Veeco Instruments and raises the price target to $31.00. Veeco's stock is trading above this target, indicating potential market agreement with the new price target.
The maintenance of a Neutral rating by Goldman Sachs suggests no significant change in the company's outlook, while the increase in price target could be seen as a positive adjustment. However, since the stock is already trading above the new target, the short-term impact on the stock price may be limited. The market may have already priced in the positive aspects that led to the target increase.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100