Veeco price target raised to $43 from $36 at Citi

Citi analyst Atif Malik raised the firm’s price target on Veeco to $43 from $36 and keeps a Buy rating on the shares. The company reported December quarter results above the pre-announced guidance provided in January with a record high of semiconductor revenue driven by laser annealing systems and a better gross margin helped by volume and mix, the analyst tells investors in a research note.