Shares of Kulicke & Soffa (KLIC) are soaring 5.05% in Friday's intraday trading session, buoyed by a series of positive analyst actions. The semiconductor and electronic assembly equipment manufacturer has caught the attention of Wall Street, with multiple firms raising their price targets and one upgrading its rating.
B. Riley Securities led the charge by raising its price target on Kulicke & Soffa to $39 from $35, while maintaining a Neutral rating. The firm cited better-than-expected performance from the company as the rationale behind the increased target. Meanwhile, Needham reiterated its Buy rating on the stock, signaling continued confidence in KLIC's prospects.
In a more bullish move, Fubon Securities upgraded Kulicke & Soffa to Buy from Neutral, significantly adjusting its price target to $46 from $33. This represents a substantial 39% increase in the firm's valuation of the company. The wave of positive analyst sentiment appears to be driving investor enthusiasm, contributing to the stock's notable gain today.
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