Diodes price target lowered to $56 from $70 at Baird

Baird analyst Tristan Gerra lowered the firm’s price target on Diodes to $56 from $70 and keeps a Neutral rating on the shares. The firm said in the past Diodes has weathered downturns better than the competition notably in terms of revenue sustainability while its non-aggressive approach to pricing since 2021 is likely to pay dividends in terms of continued market share but its Q3 miss and guidance cut improves its revenue positioning into 2024.