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On Thursday, Lasertec Corp . (TYO:6920:JP) (OTC: LSRCF) saw its price target lowered by an analyst at Jefferies, setting the new target at JPY28,000.00, a decrease from the previous JPY34,000.00. Despite the reduction, the analyst maintained a Buy rating on the company's shares.
During a top management meeting held on December 19, Lasertec's President & CEO Sendoda, along with CFO Yokogawa, discussed the company's performance and future prospects. The key takeaway from the meeting was that Lasertec's long-term business growth potential remains steady. However, it was acknowledged that order adjustments are expected in FY6/25, with this trend potentially persisting for one to two years.
The analyst from Jefferies updated their estimates following the insights shared at the meeting. The revision of the price target to JPY28,000 reflects the current business adjustments but does not affect the firm's confidence in Lasertec's growth, as the Buy rating was reiterated.
Lasertec's management's commitment to its long-term growth trajectory, despite the near-term order adjustments, was a significant point of discussion. The company's leadership conveyed a sense of steady progress while acknowledging the need to recalibrate expectations in the short term.
The updated price target and maintained Buy rating indicate that the analyst sees value in Lasertec's stock despite the anticipated short-term challenges. The company's stock performance and investor sentiment will likely be influenced by its ability to navigate the forecasted adjustments and maintain its path toward growth.
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