Diodes price target raised to $120 from $100 at Baird

Baird analyst Tristan Gerra raised the firm’s price target on Diodes to $120 from $100 and keeps an Outperform rating on the shares. The analyst said we remain constructive on analog names as we believe supply will continue to shape the financial outlook for this year. Diodes is strategically building channel inventory to prepare for a rebound in China post the COVID-19 peak.