Evercore ISI analyst Vedvati Shrotre initiated coverage of Nova with an Outperform rating and $210 price target. The company is an optical metrology pure-play benefiting from increasing metrology requirements with transition to smaller and more complex 3D architectures such as GAA architectures and advanced packages, the analyst tells investors in a research note. With increasing complexity, chipmakers are also increasing the use of different materials, which translates to higher demand for Nova’s unique material metrology tools, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>