Nova price target raised to $187 from $150 at Benchmark

Benchmark raised the firm’s price target on Nova to $187 from $150 and keeps a Buy rating on the shares after the company reported “record earnings” for Q4 and guided above expectations for Q1. The firm sees several trends supporting continued growth in 2025, including AI/HBM opportunities, stronger DRAM sales, a recovery in NAND, a ramp of gate-all-around chips, and investment by the U.S., Europe, and Japan for internal chip production.