Amkor Technology price target raised to $36 from $32 at DA Davidson

DA Davidson analyst Thomas Diffely raised the firm’s price target on Amkor Technology to $36 from $32 and keeps a Buy rating on the shares. The company’s Q2 results topped expectations despite weak end market demand and prolonged inventory digestion, the analyst tells investors in a research note. Despite near-term market headwinds, the company also expects to outperform the industry and its Q3 outlook was “solid” thanks to strong demand for advanced packaging solutions, particularly for premium tier smartphones, the firm adds.