Photronics (PLAB) Stock: Why The Price Increased 3.72%

By Amit Chowdhry ● Apr 12, 2022
  • The stock price of Photronics, Inc. (NASDAQ: PLAB) increased by 3.72% in the most recent trading session. This is why.

The stock price of Photronics, Inc. (NASDAQ: PLAB) increased by 3.72% in the most recent trading session. Investors responded positively to a bullish research report.

Stifel analyst Patrick Ho upgraded Photronics from a “Hold” rating to a “Buy.” And Ho increased the price target from $19 to $21.

“Our FY22 (Oct) and CY22 estimates remain unchanged, and we are introducing FY23 and CY23 forecasts. For FY23, our new estimates call for $855 million in revenue (+8% y-o-y) and pro-forma EPS of $1.86, including options. For CY23, our new estimates call for $867 million in revenue (+7% y-o-y) and pro-forma EPS of $1.93, including options,” wrote Ho in a research note.

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