Benchmark Electronics price target lowered to $29 from $33 at Lake Street

Lake Street lowered the firm’s price target on Benchmark Electronics to $29 from $33 and keeps a Buy rating on the shares. While Benchmark reported “good results” in Q3, Q4 guidance falls short of expectations as a more cautious demand environment, primarily in the Semi Cap and Medical segments, is driving a more muted outlook for the first half of 2024, the analyst tells investors.