Needham Maintains Buy on Onto Innovation, Lowers Price Target to $230
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Charles Shi maintains a Buy rating on Onto Innovation (NYSE:ONTO) but lowers the price target from $245 to $230.
November 01, 2024 | 11:28 am
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Needham analyst Charles Shi maintains a Buy rating on Onto Innovation but lowers the price target from $245 to $230, indicating a slightly less optimistic outlook.
The maintenance of a Buy rating suggests continued confidence in Onto Innovation's prospects, but the lowered price target indicates a slightly less optimistic view on its short-term valuation. This could lead to neutral market reactions as the Buy rating is still positive, but the reduced target may temper expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100