Diodes price target raised to $80 from $70 at Benchmark

Benchmark raised the firm’s price target on Diodes to $80 from $70 and keeps a Buy rating on the shares following the company’s “mixed” Q4 report. While the outlook was well below consensus expectations, it was “better than we had feared” given the magnitude of downside adjustments seen from peers, says the analyst, whose long-term thesis is unchanged. The firm remain confident in Diodes’ revenue trajectory and improving profitability, the analyst added.