Desjardins Upgrade Desjardins’ Kevin Krishnaratne raised his target for Photon Control Inc. to $4 from $3.50, above the $3.75 average, with a “buy” rating.
“Since we initiated coverage over a month ago, PHO shares are up 20 per cent,” he said. “Industry data points have been nothing but positive, with demand for memory and related capex equipment increasing on the back of big tech trends such as 5G, cloud computing and AI. We see PHO benefiting given its sensors are critical inputs for several players in the memory capex industry. Ahead of 1Q results on May 11, we maintain our bullish view.”