Onto Innovation price target raised to $135 from $124 at Stifel

Stifel analyst Brian Chin raised the firm’s price target on Onto Innovation to $135 from $124 and keeps a Buy rating on the shares. The firm expects the company’s earnings to meet expectations and anticipates a modest upward bias to revenue for Q3 and the second half of the year, the analyst tells investors. Further, investors may be inclined to be more upbeat towards the stock due to its strength in AI-driven 3D packaging.