Amkor Technology price target raised to $40 from $35 at DA Davidson

DA Davidson analyst Thomas Diffely raised the firm’s price target on Amkor Technology to $40 from $35 and keeps a Buy rating on the shares. The company reported “mixed” Q1 results with and earnings beat but softer than seasonal revenues on continued industry headwinds being driven by end-market softness, inventory digestion, and ongoing geopolitical dynamics, the analyst tells investors in a research note. Amkor’s Q1 should mark the cyclical bottom as strong growth is expected in the second half, followed by continued expansion in 2025, the firm added.