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Investing.com - Jefferies downgraded Lasertec Corp. (6920:JP) (OTC:LSRCF) from Buy to Hold on Thursday, while simultaneously raising its price target to JPY26,000 from JPY21,000.
The rating change follows Lasertec’s first-quarter fiscal year 2026 results announcement on Thursday, where the company reported operating profit of JPY26.7 billion, exceeding both company guidance and market expectations.
Despite the strong quarterly performance, Jefferies noted that Lasertec has not observed a clear recovery trend in its business yet, with the company itself anticipating a recovery beginning in 2026.
Jefferies explained that its price target increase reflects updated valuation metrics for the semiconductor equipment manufacturer, which specializes in inspection and measurement systems.
The downgrade to Hold status comes as Jefferies believes Lasertec’s share price has already risen substantially on growth expectations, limiting further upside potential despite the improved price target.
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