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Investing.com - Benchmark raised its price target on Veeco Instruments Inc. (NASDAQ:VECO) to $35.00 from $28.00 on Thursday, while maintaining a Buy rating on the stock. The new target represents a 21% upside from the current price of $28.99, slightly above InvestingPro’s calculated Fair Value.
The research firm’s decision follows Veeco’s third-quarter 2026 financial results, which exceeded expectations but were driven by lower-margin tool shipments.
Veeco projects lower earnings on similar sales for the fourth quarter of 2026, according to Benchmark’s analysis of the company’s guidance.
The firm noted that Veeco has recently secured new orders across its product lines, including wet processing, MOCVD, lithography, and ion beam tools.
Benchmark forecasts 25% growth in Veeco’s non-GAAP earnings to $1.72 per diluted share for 2026, citing these recent orders and the successful completion of evaluations as key growth drivers.
In other recent news, Veeco Instruments Inc. reported its third-quarter 2025 earnings, exceeding analysts’ expectations. The company achieved an earnings per share of $0.36, surpassing the forecasted $0.28. Veeco’s revenue also outperformed projections, totaling $166 million compared to the anticipated $160.41 million. These results highlight the company’s strong performance in the recent quarter. Additionally, Veeco’s stock experienced a rise in after-hours trading following the earnings announcement. Analyst firms have noted the company’s impressive financial results, which may influence future evaluations. The earnings and revenue figures are crucial indicators for investors assessing Veeco’s financial health. These developments provide a clear picture of Veeco’s recent achievements in the market.
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