Oppenheimer raised the firm’s price target on Ultra Clean (UCTT) to $35 from $30 and keeps an Outperform rating on the shares. The firm notes the company’s Q3 results were modestly ahead, with revenue in line and gross margin improving 70bps sequentially. Despite the solid quarter, management cited “near-term volatility and reduced visibility” in projecting relatively flat revenue for the next quarter, possibly into Q1 2026, but potentially a “step-function increase” in the second half of 2026, Oppenheimer adds.
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